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I need to make a Statement of cash flows with this attached sheet. I need to make a statement of cash flows using the Indirect

I need to make a Statement of cash flows with this attached sheet. I need to make a statement of cash flows using the Indirect method and I am totally lost. image text in transcribed

IC #8 ABC Company Comparative Balance Sheets As of 12/31/16 and 12/31/17 12/31/17 12/31/16 12/31/17 12/31/16 Cash A/R Allow. Doubtful Acct Inventory PP&E Acc. Depred. 41,800 30,000 A/P 110,000 89,000 T/P 41,00050,000 3,000 8,000 350,000 220,000 281,000 150,000 100,000 95,775 684,050 476,775 6,900 (2,750) 150,000 135,000 N/P 450,000 300,000 (65,000) (75,000) C/S 684,050 476,775 RVE (2.225) Dividend payable ABC Company Income Statement For Year Ending 12/31/17 Accumulated Depreciation Revenue Cost of goods sold Gross profit Gain (loss) on sale of equipment Depreciation expense S&A expense Interest expense Taxable income Tax expense Net income 650,000 425,000 225,000 (22,500) (80,000) (35,000) 1. ABC borrowed $150,000 on 1/1/17 to help pay for a new machine that cost $250,000. 2. ABC sold one old machine for $57,500. 3. ABC paid the dividend declared on 12/31/16 4. ABC paid a $10,000 dividend that was declared on 6/30/17. 5. ABC declared a second $15,000 dividend on 12/31/17. 6, Tax rate is 35%. Required Prepare the 2017 statement of cash flows in good form. Use the indirect method

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