Exercise 13-7 (Part Level Submission) Rojas Corporation's comparative balance sheets are presented below ROJAS CORPORATION Comparative Balance Sheets 2017 2016 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $14,200 $10,500 21,700 20,200 69,800 (15,200) (11,000) 23,500 26,500 69,800 Total $110,700 $119,300 Accounts payable Common stock Retained earnings $11,800 75,200 23,700 $110,700 $28,600 71,200 19,500 $119,300 Total Additional information 1. Net income was $22,200. Dividends declared and paid were $18,000 2. No noncash investing and financing activities occurred during 2017 3. The land was sold for cash of $4,700 (a) Your answer is partially correct. Try again. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flo ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 22200 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 5100 ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income 22200 Adjustments to reconcile net income to Net Cash Provided by Operating Activities# Depreciation Expense 5100 Loss on Disposal of Land 1100 Decrease in Accounts Receivable 2200 Decrease in Accounts Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Issuance of Common Stock Net Cash Used by Financing Activities Net Income Cash at End of Period