Following are a statement of cash flows (indirect method) for Harris, Inc., for the year ended December 31, 2017, and the firms balance sheet at December 31, 2016:

HARRIS, INC.
Statement of Cash Flows
For the year Ended December 31, 2017
Cash Flows from Operating Activities:
Net income	$	13,500
Add (deduct) items not affecting cash:
Depreciation expense		31,600
Increase in accounts receivable		(6,400	)
Decrease in merchandise inventory		32,900
Increase in accounts payable		3,400
Net cash provided by operating activities	$	75,000
Cash Flows from Investing Activities
Purchase of buildings		(90,600	)
Proceeds from sale of land at its cost		9,700
Net cash used by investing activities	$	(80,900	)
Cash Flows from Financing Activities:
Payment of short-term debt		(6,400	)
Payment of notes payable		(11,100	)
Proceeds from issuance of long-term debt		17,100
Proceeds from issuance of common stock		9,600
Payment of cash dividends on common stock		(6,500	)
Net cash provided by financing activities	$	2,700
Net decrease in cash for the year	$	(3,200	)

HARRIS, INC.
Balance Sheet
At December 31, 2016
Assets
Cash	$	15,900
Accounts receivable		63,700
Merchandise inventory		76,600
Total current assets	$	156,200
Land		35,200
Buildings		118,600
Less: Accumulated depreciation		(73,700	)
Total land and buildings	$	80,100
Total assets	$	236,300
Liabilities
Accounts payable	$	60,500
Short-term debt		16,300
Notes payable		35,600
Total current liabilities	$	112,400
Long-term debt		50,600
Stockholders' Equity
Common stock, no par	$	22,500
Retained earnings		50,800
Total Stockholders' Equity	$	73,300
Total liabilities and Stockholders' Equity	$	236,300

a. Using the preceding information, complete the balance sheet for Harris, Inc., at December 31, 2017. HARRIS, INC. Balance Sheet At December 31, 2017 Assets: Current assets: Cash $ 13,500 Accounts receivable Merchandise inventory Total current assets $ 13,500 Noncurrent assets: Land Buildings Less: Accumulated depreciation Total noncurrent assets $ 0 Total assets $ 13,500 $ 0 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable Short-term debt Notes payable Total current liabilities Long-term debt Stockholders' Equity: Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 0 $ 0 b. Complete the statement of changes in retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) HARRIS, INC. Statement of Changes in Retained Earnings For the Year Ended December 31, 2017 Retained earnings, January 1, 2017 Retained earnings balance , December 31, 2017 $ 0