make a statement of cash flows for the year ended December 31, 2017, using the indirect method.

A comparative statement of financial position for Mann Company appears below:

MANN COMPANY

Comparative Statement of Financial Position

Dec. 31, 2017Dec. 31, 2016

Assets

Equipment60,00032,000

Accumulated depreciationequipment(20,000)(14,000)

Long-term investments-0-18,000

Prepaid expenses6,0009,000

Inventory25,00018,000

Accounts receivable18,00014,000

Cash33,00010,000

Total assets122,00087,000

Equity and Liabilities

Share capital-ordinary40,00023,000

Retained earnings28,00010,000

Bonds payable37,00047,000

Accounts payable17,0007,000

Total equity and liabilities122,00087,000

additional information :

1.Net income for the year ending December 31, 2017 was33,000.

2.Cash dividends of15,000 were declared and paid during the year.

3.Long-term investments that had a cost of18,000 were sold for14,000.

4.Sales for 2017 were120,000.