LAG Network Inc.'s balance sheet and income statement are as follows: LAG Network Inc. LAG Network Inc. Income Statement Comparative Balance Sheet Information For Year Ended December 31, 2017 December 31 Sales . $929,600 Assets 2017 2016 Cost of goods sold 557,200 $372,400 $ 81,200 $ 54,600 Cash.. Gross profit Accounts receivable... 43,400 37,800 Operating expenses: Depreciation expense Other expenses Merchandise inventory.. 284,200 249,200 $ 25,200 Equipment. . Accumulated depreciation ......... 155,400 138,600 233,800 (72,800) $491,400 $432,600 (47,600) Total operating expenses Profit from operations 259,000 Total assets ... $113,400 Liabilities and Equity Income taxes 19,600 $ 93,800 Accounts payable $ 32,200 $ 44,800 Profit . Income taxes payable. 12,600 11,200 Common shares.. 364,000 336,000 Retained earnings... 82,600 40,600 Total liabilities and equity... $491,400 $432,600 Additional information regarding LAG Network Inc.'s activities during 2017: a. Equipment is purchased for $16,800 cash. b. 11,200 common shares are issued for cash at $2.50 per share. c. Declared and paid $51,800 of cash dividends during the year. CHECK FIGURE: Net cash inflow from operating activities = $67,200 Required Prepare a statement of cash flows for 2017 that reports the cash inflows and outflows from operating activities according to the indirect method. Show your supporting calculations. Analysis Component: Assume that LAG Network Inc. had a loss instead of a profit. Does a loss mean that there will always be a cash outflow from operating activities on the statement of cash flows?