Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2017. Also shown is a partially completed comparative balance sheet as of December 31, 2017 and 2016:

a. Complete the December 31, 2017 and 2016, balance sheets.

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.)

HARTFORD, INC Statement of Cash Flows For the year Ended December 31, 2017 Cash Flows from Operating Activities: Net income 11,700 Add (deduct) items not affecting cash: Depreciation expense Decrease in accounts receivable 58,500 29,900 (9,100) 15,600 (7,800) $ 98,800 Increase in Inventory Increase in notes payable Decrease in accounts payable Net cash provided by operating activities Cash Flows from Investing Activities: Purchase of equipment Purchase of buildings Net cash used by investing activities Cash Flows from Financing Activities: Proceeds from short-term debt (65,000) (62,400) $(127,400) 6,500 (32,500) 13,000 (3,900) $ (16,900) (45,500) Cash used for retirement of long-term debt Proceeds from issuance of common stock Payment of cash dividends on common stock Net cash used by financing activities Net decrease in cash for the year HARTFORD, INC. Comparative Balance Sheets At December 31, 2017 and 2016 2016 2017 Assets: Current assets $ 114,400 Cash Accounts receivable 94,900 Inventory 72,800 Total current assets Land 52,000 Buildings and equipment 338,000 Less: Accumulated depreciation (159,900) Total land, buildings and equipment Total assets Liabilities: Current liabilities: Accounts payable $ 37,700 Short-term debt 41,600 Notes payable 46,800 Total current liabilities $ Long-term debt 110,500 Stockholders' Equity: Common stock $ 52,000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity HARTFORD, INC. Statement of Changes in Retained Earnings For the Year Ended December 31, 2017 Retained earnings, January 1, 2017 0 Retained earnings, December 31, 2017 A