prepare a statement of cashflows

A comparative balance sheet for Heathcote Company appears below: HEATHCOTE COMPANY Comparative Balance Sheet Dec 31, 2017 Dec. 31, 2016 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Equipment Accumulated depreciation equipment Total assets $ 24,000 18,000 25,000 6,000 -0- 60,000 (20,000 $113,000 $11,000 13,000 17,000 9,000 17,000 33,000 (15,000 $85.000 Liabilities and Stockholders' Equity Accounts payable $ 17,000 Bonds payable 36,000 Common stock 40,000 Retained earnings 20,000 Total liabilities and stockholders' equity $113.000 + Additional information: 1. Net income for the year ending December 31, 2017 was $25,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14,000. 4. Sales for 2017 were $320,000. $ 7,000 45,000 23,000 10,000 $85.000 Instructions Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method (25 points)