Prepare a statement of cash flow for 2017.

E5-17 (LO3,5) (Preparation of a Statement of Cash Flows and a Balance Sheet) Grant Wood Corporation's balance sheet at the end of 2016 included the following items. Current liabilities Bonds payable Common stock Retained earnings Current assets (Cash $82,000) Land Buildings Equipment $150,000 $235,000 30,000 120,000 100,000 180,000 90,000 44,000 (30,000) (11,000) 40,000 Accum. depr-buildings Accum. depr-equipment Total S474,000 Patents Total $474,000 The following information is available for 2017. 1. Net income was $55,000. 2 Equipment (cost $20,000 and accumulated depreciation $8,000) was sold for $10,000. 3. Depreciation expense was $4,000 on the building and $9,000 on equipment. 4. Patent amortization was $2,500. 5. Curent assets other than cash increased by $29,000. Current liabilities increased by $13,000 6. An addition to the building was completed at a cost of $27,000. 7. A long-term investment in stock was purchased for $16,000. 8. Bonds payable of $50,000 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000. Instructions (Show only totals for current assets and current liabilities.) (a) Prepare a statement of cash flows for 2017