Exercise 13-8

VELO COMPANY Comparative Balance Sheets December 31
Assets	2017	2016
Cash	$63,000	$22,000
Accounts receivable	85,000	76,000
Inventory	170,000	189,000
Land	75,000	100,000
Equipment	270,000	200,000
Accumulated depreciationequipment	(66,000	)	(32,000	)
Total	$597,000		$555,000
Liabilities and Stockholders Equity
Accounts payable	$39,000	$47,000
Bonds payable	150,000	200,000
Common stock ($1 par)	216,000	174,000
Retained earnings	192,000		134,000
Total	$597,000		$555,000

Additional information:

1.	Net income for 2017 was $93,000.
2.	Cash dividends of $35,000were declared and paid.
3.	Bonds payable amounting to $50,000were redeemed for cash $50,000.
4.	Common stock was issued for $42,000cash.
5.	No equipment was sold during 2017, but land was sold at cost.

Exercise 13-8

Prepare a statement of cash flows for 2017