Here are comparative balance sheets for Velo Company.

VELO COMPANY Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 73,200			$ 32,700
Accounts receivable		85,600			70,500
Inventory		169,800			186,600
Land		74,000			100,600
Equipment		260,500			200,100
Accumulated depreciationequipment		(65,800	)		(33,700	)
Total		$597,300			$556,800
Liabilities and Stockholders Equity
Accounts payable		$ 35,400			$ 47,300
Bonds payable		151,400			203,000
Common stock ($1 par)		217,500			173,200
Retained earnings		193,000			133,300
Total		$597,300			$556,800

Additional information:

1.		Net income for 2017 was $104,100.
2.		Cash dividends of $44,400 were declared and paid.
3.		Bonds payable amounting to $51,600 were redeemed for cash $51,600.
4.		Common stock was issued for $44,300 cash.
5.		No equipment was sold during 2017, but land was sold at cost.

Prepare a statement of cash flows for 2017 using the indirect method.