Information from the Balance Sheet and statement of income are given below for Martinez Inc., a private company reporting under ASPE, for the year ended December 31. Martinez Inc. Comparative Balance Sheet, at December 31 Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation 2017 $92,150 90,700 122,000 85,100 285,200 (48,260) $626,890 2016 $46,150 36,150 102,550 107,150 201,000 (40,000) $454,000 Accounts payable Accrued liabilities Notes payable Common shares Retained earnings 52,700 11,700 140,000 250,000 172,490 626,890 48,410 19,010 70,000 195,000 121,580 454,000 Revenues Sales Gain on Disposal of Equipment 286,500 7,750 294,250 Expenses Cost of goods sold depreciation expense Operating expenses Income tax expense Interest expense Profit $95,650 56,100 14,270 36,800 2,710 205,530 $88,720 Additional information: 1. Investments in land were sold at a gain during 2017. 2.Equipment costing $55,200 was sold for $16,110, resulting in a gain. 3.Common shares were issued in exchange for some equipment during the year. No other shares were issued. 4. The remaining purchases of equipment were paid for in cash. Prepare a cash flow statement for the year ended December 31, 2017 using the direct method