P13-9A Condensed financial data of Cheng Inc. follow. CHENG INC. Comparative Balance Sheets December 31 2017 $80,800 92,800 117,500 28,400 143,000 270,000 (50,000) $682,500 2016 S 48,400 33,000 102,850 26,000 114,000 242,500 (52,000) $514,750 Assets as Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equit Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $112,000 16,500 110,000 220,000 224,000 67,300 17,000 150,000 175,000 105,450 $514,750 Total $682,500 CHENG INC. Income Statement For the Year Ended December 31, 2017 Sales revenue Less: $392,780 Cost of goods sold Operating expenses, excluding $135,460 depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets 12,410 46,500 27,280 4,730 7,500 233,880 $158,900 Net income Additional information: I. New equipment costing $85,000 was purchased for cash during the year. 2. Old equipment having an original cost of $57,500 was sold for $1,500 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $40,350 was declared and paid during the year. Instructions Prepare a statement of cash flows using the indirect method