Exercise 13-8 Here are comparative balance sheets for Velo Company, VELO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $73,200 Accounts receivable 85,600 Inventory 169,800 Land 74,000 Equipment 260,500 Accumulated depreciation-equipment (65,800) Total $597,300 Llabilities and Stockholders' Equity Accounts payable $35,400 Bonds payable 151,400 Common stock ($1 par) 217,500 Retained earnings 193,000 Total $597,300 2016 $32,700 70,500 186,600 100,000 200,100 (33,700) $556,800 $47,300 203,000 173,200 133,300 $556,800 Additional information: 1. Net Income for 2017 was $104,100. 2. Cash dividends of $44,400 were declared and paid. Ha arriti t51. carlaamarine 451 NEE CALCULATOR FALCHEN PRINT VERSION BACK NEL WIRE QUE 10, 2. Cash dividends of $44,400 were declared and paid 3. Bonds payable amounting to $51,600 were redeemed for cash $51,600 4. Common stock was issued for $44,300 cash No equipment was sold during 2017, but land was sold at cost Prepare a statement of cash flows for 2017 using the Indirect method. (Show amounts that decrease cash flow with other ag 15.000, or in parenthese 118,000): VELO COMPANY Statement of Cash Flows Adjustments to reconcile net income to CALCULATOR PULL SCREEN PRINTER VERSION BACK >