Exercise 23B-17 (Part Level Submission) Carla Inc., had the following condensed balance sheet at the end of operations for 2016. CARLA INC. BALANCE SHEET DECEMBER 31, 2016 Cash Current assets other than cash Equity investments Plant assets (net) Land $8,600 28,800 19,900 67,800 40,200 $165,300 Current liabilities Long-term notes payable Bonds payable Common stock Retained earnings 15,000 25,600 25,000 75,000 24,700 5165,300 During 2017, the following occurred. 1. A tract of land was purchased for $9,000 2. Bonds payable in the amount of $15,000 were redeemed at pan 3. An additional $10,000 in common stock was issued at par 4. Dividends totaling $9,400 were paid to stockholders. 5. Net income was $30,500 after allowing depreciation of $13,700 6. Land was purchased through the issuance of 522,300 in bonds. 7. Carla Inc. sold part of its investment portfolio for $12,800. This transaction resulted in a gain of $2,000 for the company. No unrealized gains or losses were recorded on these investments in 2017 8. Both current assets (other than cash) and current liabilities remained at the same amount. 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).) CARLA INC. Statement of Cash Flows Adjustments to reconcile net income to