Prepare a statement of cash flows for Coronado Corp. for the year ended December 31, 2017, using the indirect method.

Question 5 The following are Coronado Corp.'s comparative balance sheet accounts at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017. COMPARATIVE BALANCE SHEETS 2017 2016 Cash $821,300 $698,500 Accounts receivable 1,118,800 1,165,800 Inventory 1,863,300 1,709,100 Property, plant, and equipment 3,292,300 2,950,900 Accumulated depreciation (1,153,700 ) (1,030,800 Investment in Myers Co. 307,300 274,600 Loan receivable 248,800 Total assets S6,498,100 S5,768,100 Accounts payable $1,010,500 $951,500 Income taxes payable 30,300 49,600 Dividends payable 80,000 100,200 Lease liability 401,900 Common stock, Si par 500,000 500,000 Paid-in capital in excess of par-common stock 1,496,000 1,496,000 Retained earnings 2,979,400 2,670,800 Total liabilities and stockholders' equity S6,498,100 $5,768,100 Additional information: 1. On December 31, 2016, Coronado acquired 25% of Myers Co.'s common stock for $274,600. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,098,400. Myers reported income of $130.800 for the year ended December 31. 2017. No dividend was paid on Myers's common stock during the year. 2. During 2017, Coronado loaned S301,400 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of SS2,600, plus interest at 10%, on December 31, 2017. 3. On January 2, 2017, Coronado sold equipment costing $60,500, with a carrying amount of $38,100, for $40,000 cash. 4. On December 31, 2017, Coronado entered into a capital lease for an office building. The present value of the annual rental payments is S401,900, which equals the fair value of the building, Coronado made the first rental payment of S60,600 when due on January 2, 2018 5. Net income for 2017 was $388,600. 6. Coronado declared and paid the following cash dividends for 2017 and 2016. 2017 2016 Declared December 15, 2017 December 15, 2016 Paid February 28, 2018 February 28, 2017 Amount $80,000 $100,200