Exercise 12-7 Shown below are comparative balance sheets for Blossom Company Blossom Company Comparative Balance Sheets December 31 2016 $ 33,462 115,596 287,469 152,100 304,200 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2017 $ 103,428 133,848 254,007 121,680 395,460 (100,386 (48,672) $908,037 $844,155 $ 59,319 228,150 328,536 292,032 $908,037 65,403 304,200 264,654 209,898 $844,155 Additional information: 1. Net income for 2017 was $141,453 2. Depreciation expense was $51,714 3. Cash dividends of $59,319 were declared and paid 4. Bonds payable amounting to $76,050 were redeemed for cash $76,050 5. Common stock was issued for $63,882 cash 6. No equipment was sold during 2017 7. Land was sold for its book value Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000))