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please answer these questions! 2016 VELO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $73,200 Accounts receivable 85,600 Inventory 169,700 Land 73,000 Equipment 260,600

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2016 VELO COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $73,200 Accounts receivable 85,600 Inventory 169,700 Land 73,000 Equipment 260,600 Accumulated depreciation-equipment (65,600) Total $596,500 Liabilities and Stockholders' Equity Accounts payable $35,200 Bonds payable 150,900 Common stock ($1 par) 216,500 Retained earnings 193,900 Total $596,500 $32,900 70,900 187,100 101,700 199,000 (34,100) $557,500 $46,800 203,600 175,500 131,600 $557,500 Additional information: 1. Net income for 2017 was $103,100. 2. Cash dividends of $40,800 were declared and paid. 3. Bonds payable amounting to $52,700 were redeemed for cash $52,700. 4. Common stock was issued for $41,000 cash. S. No equipment was sold during 2017, but land was sold at cost. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decreas (15,000).) VELO COMPANY Statement of Cash Flows $ Adjustments to reconcile net income to

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