Hamilton Helmets purchased equipment for 5124,000 cash, sold equipment costing 572,000 with a book value of 544.000 at a loss, and declared dividends during 2017. No new notes payable were issued during the year. Financial data follows: Required Prepare the Statement of Cash Flows for 2017 using the Indirect method COMPLETE REPORT TEMPLATE ON THE NEXT PAGE Balance Sheet $ income Statement Sales revenue Cost of sales Dec 31, 2017 89,200 62.400 56,000 360,000 (92.000 50,800 Dec 31, 2016 $ 86.000 27.600 42.000 308,000 (54.000) 72.800 42.400 17.500 16.000 110,000 56,000 54 800 Accounts receivable Inventory Equipment Accum depreciation Accounts payable Uneamed revenue Salaries Payable Tas payable Long term notes payable Common stock Change 3.200 34.800 14,000 52,000 (8,000) (22,000) (10,000) (3.600) 7,200 (36.000 124.000 36.400 2017 1,700.000 350,000 270,000 36,000 7.000 5,000 Salaries expense Depreciation expense Interest expense Loss on sale of equipment Income t axpense Net income 14.000 23.200 74.000 180.000 101.200 Retained samnings Hamilton Helmets Statement of Cash Flows December 31, 2017 Cash flows from Operating activities Net Income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation/Depletion/Amortization Expense Loss on sale of long-term assets Gain on sale of long-term assets Increase in current asset Increase in current aset: Increase in current asset Decrease in current asset Decrease in current asset: Decrease in current asset: Increase in current liability Increase in current liability Increase in current liability: Decrease in current liability: Decrease in current liability Decrease in current liability Decrease in current liability Net Cash provided by used for) Operating activities Cash flows from Investing activities Sales on long-term assets Purchase of long-term assets Collection of notes receivable Loans to others Net Cash provided by (used for) Investing activities Cash flows from Financing activities Issuance of stock Sale of treasury stock Purchase of treasury stock Borrowing (notes or bonds) Payment of notes or bonds payable Payment of dividends Net Cash provided by used for) Financing activities Net increase (decrease) in cash during the year. + Cash at Beginning of Year Cash at End of Year