P10-288 Accountants for Crowne Plaza Products Inc. have assembled the following data for LEARNING OBJECTIVE the year ended December 31, 2017: Prepare the statement of cash flows-indirect method Current Accounts: Current assets: Cash and cash equivalents.. Accounts receivable. Inventories Prepaid expenses Current liabilities: Accounts payable Income tax payable. Accrued liabilities. Transaction Data for 2017: Payment of cash dividends. Issuance of long-term note payable to borrow cash. Net income... Issuance of preferred shares for cash...... Sale of long-term investment................ Depreciation expense. Payment of long-term note payable....... Gain on sale of investment........... $48,300 Stock dividends. Collection of loan. December 31 2017 2016 $29,100 $34,800 70,100 73,700 90,600 96,500 3,200 2,100 71,600 67,500 5,900 6,800 28,300 23,200 $ 12,600 10,300 69,000 89,400 71,000 Purchase of equipment. 31,000 Payment of note payable by 36,200 issuing common shares 12,200 Purchase of long-term investment..... 30,300 Acquisition of building by issuing 47,800 long-term note payable.............. 201,000 3,500 44,800