Here are comparative statements of financial position for MEERA LTD.

MEERA LTD Comparative statements of financial position December 31
Assets	2017	2016
Land	73,000	100,000
Equipment	260,000	200,000
Accumulated depreciation - equipment	(66,000)	(34,000)
Inventory	170,000	187,000
Account receivable	85,000	71,000
Cash	73,000	33,000
Total	595,000	557,000
Equity and liabilities
Share capital ordinary ($1 par)	216,000	174,000
Retained earnings	194,000	136,000
Bonds payable	150,000	200,000
Account payable	35,000	47,000
Total	595,000	557,000

Additional information:

Net income for 2017 was 103,000.

Depreciation expense was 32,000.

Cash dividends of 45,000 were declared and paid.

Bonds payable amounting to 50,000 were redeemed for cash 50,000. Note: this amount is cash outflow and should be classified as financing activity.

Ordinary shares were issued for 42,000

No equipment was sold during 2017.

Land was sold for its book value of 27,000

Instructions

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