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Statement of Cash Flows (Indirect Method) The Huber Company's income statement and com- parative balance sheets as of December 31 of 2016 and 2015 follow: HUBER COMPANY Income Statement For the Year Ended December 31, 2016 Sales revenue. .. Cost of goods sold... Wages and other operating expenses Depreciation expense.... $810,000 $530,000 172,000 29,000 6,000 Patent amortization expense 18,000 25,000 Interest expense. Income tax expense... Gain on exchange of land for patent 743,000 (37,000) $67,000 Net income... HUBER COMPANY Balance Sheets Dec. 31, Dec. 31, 2016 2015 Assets Cash $ 49,000 16,000 49,000 64,000 160,000 361,000 Accounts receivable 64,000 85,000 117,000 441,000 Inventory.. Land... Building and equipment.. Accumulated depreciation (122,000) (100,000) Patent... 74,000 Total assets $708,000 $550,000 Liabilities and Stockholders' Equity Accounts payable. Interest payable Income tax payable Bonds payable . $36,000 13,000 $26,000 5,000 7,000 12,000 75,000 350,000 180,000 350,000 122,000 Common stock. Retained earnings 82,000 Total liabilities and stockholders' equity $708,000 $550,000 During 2016, $27,000 of cash dividends were declared and paid. A patent valued at $80,000 was obtained in exchiange for land. Equipment that originally cost $20,000 and had $7,000 accumulated depreciation for structural improvements to the building. was sold for $13,000 cash. Bonds payable were sold for cash and cash was used to pay Required Compute the change in cash that occurred during 2016. Prepare a statement of cash flows using the indirect method. a. h