Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $72,600 cash 2016 $33,300 Accounts receivable 86,100(2017) 71,200(2016) Inventory 169,800(2017) 187,400 (2016)Land 72,600(2017) 101,500 (2016)Equipment 260,100(2017) 199,700(2016) Accumulated depreciationequipment 2017 (65,500 )2016 (33,600 ) Total $595,700 (2017) $559,500 (2016) Liabilities and Stockholders Equity Accounts payable $35,100( 2017) $47,300(2016) Bonds payable 148,200(2017) 203,700 (2016)Common stock ($1 par) 217,000 (2017)174,900(2016) Retained earnings 195,400 (2017) 133,600 (2016) Total $595,700 (2017) $559,500 (2016)

Additional information: 1. Net income for 2017 was $101,600. 2. Cash dividends of $39,800 were declared and paid. 3. Bonds payable amounting to $55,500 were redeemed for cash $55,500. 4. Common stock was issued for $42,100 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