Exercise 13-8 Here are comparative balance sheets for Velo Company. VELO COMPANY Compara ber 31 Sheets Assets 2017 2016 Cash 33,100 72,600 Accounts receivable 85,500 70,600 Inventory 169,500 187,200 Land 72,800 100,200 260,700 200,900 Equipment Accumulated depreciation-equipment (65,800) (34,000) $558,000 $595,300 Total Liabilities and Stockholders' Equity $35,200 $ 47,400 abl Bonds payable 151,300 204,000 Common stock ($1 par) 216,900 175,600 Retained earnings 191,900 131,000 Total $595,300 $558,000 Additional information: 1, Net income for 2017 was $103.300. Cash dividends of $42,400 were declared and paid. 2 3. Bonds payable amounting to $52,700 were redeemed for cash $52,700 4. Common stock was issued for $41,300 cash 5. No equipment was sold during 2017, but land was sc at cost. 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).) VELO COMPANY Statement of Cash Flows Adjustments to reconcile net income to