Problem 12-11A The comparative balance sheets for Oriole Company as of December 31 are presented below. Oriole Company Comparative Balance Sheets Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total 2017 016 $89,148 58,995 76,038 186,162 27,531 170,430 262,200 65,550 198,551 20,032 190,095 262,200 (78,660) (52,440) 294,975 203,205 (58,995) (45,885) $982,896 $886,236 Liabilities and Stockholders Equit Accounts payable Bonds payable Common stock, $1 par Retained earnings $58,641 47,196 393,300 209,760 235,980 $982,896 $886,236 393,300 262,200 268,755 Additional information: 1. Operating expenses include depreciation expense of $55,062. 2. Land was sold for cash at book value. 3. Cash dividends of $15,732 were paid. 4. Net income for 2017 was $48,507 5. Equipment was purchased for $120,612 cash. In addition, equipment costing $28,842 with a book value of $13,110 was sold for $10,488 cash. 6. 52,440 shares of $1 par value common stock were issued in exchange for land with a fair value of $52,440. Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Oriole Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to