Preparing a Statement of Cash Flows (Indirect Method) LO1, 2,4, 6 Yogurt Land is developing its annual financial statements at December 31, 2016. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Additional Data: Bought equipment with a $10,000 long term note payable and $8,000 cash. Settled $17,000 of long term notes payable. Issued new shares of common stock for $9,500. Cash Dividends of S??,??? were declared and paid. Sold old equipment for $17,000, which was originally purchased for $23,900 and had an accumulated depreciation balance of $10,000. Accounts payable includes only inventory purchases made on credit. Issued preferred shares and raised $3,000 in cash. Prepare the statement of cash flows using the indirect method for the year ended December 31, 2016