*Exercise 17-9 Rodriquez Corporation's comparative balance sheets are presented below. RODRIQUEZ CORPORATION Comparative Balance Sheets December 31 2017 2016 $16,600 24,900 Cash Accounts receivable Investments Equipment Accumulated depreciation-equipment Total 20,250 59,750 $17,700 22,500 16,150 70,150 (10,100) $116,400 (13,750 ) $107,750 Accounts payable Bonds payable Common stock Retained earnings Total $14,650 10.800 50,500 31,800 $107,750 $11,050 30,100 44,600 30,650 $116,400 Additional information: 1. Net income was $18,650. Dividends declared and paid were $17,500. 2. Equipment which cost $10,400 and had accumulated depreciation of $1,800 was sold for $3,800. 3. No noncash investing and financing activities occurred during 2017. Your answer is partially correct. Try again. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -45,000, or in parenthesis e.g. (45,000).) RODRIQUEZ CORPORATION Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities cbr $18650 Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 35450 TLoss on Disposal of Equipment 14800 Tincrease in Accounts Receivable 3600 Increase in Accounts Payable Net Cash Provided by Operating Activities bros 111450 130100 Cash Flows from Investing Activities Sale of Equipment Purchase of Investments Net Cash Used by Investing Activities ar TCash Flows from Financing Activities Tissuance of Common Stock | 17500 TRetirement of Bonds 19300 TPayment of Dividends 5900 TNet Cash Used by Financing Activities