Problem 12-7A (Part Level Submission) Presented below are the financial statements of Novak Company Novak Company Comparative Balance Sheets December 31 2017 37,100 21,200 29,680 63,600 (33,920) 016 21,200 14,840 21,200 82,680 Assets Cash Accounts receivable Property, plant, and equipment (25,440) Total $117,660 114,480 Accounts payable Income taxes payable Bonds payable Common stock Retained earnings $20,14015,900 8,480 34,980 7,420 19,080 53,000 40,280 117,660 $11 $114,480 Novak Company Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Selling expenses $256,520 185,500 71,020 $19,080 25,440 45,580 3,180 42,400 8,480 33,920 6,360 Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data 1. Depreciation expense was $18,550 2. Dividends declared and paid were $21,200 During the year equipment was sold for $9,010 cash. This equipment cost $19,080 originally and had accumulated depreciation of $10,070 at the time of sale Prepare a statement of cash flows 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).) Novak Company Statement of Cash Flows Adjustments to reconcile net income to Click if you would like to Show Werk for this question! Open Show Work Attempts: O of 2 used SAVE POR LATUERIT ANS The parts of this question must be completed in order. This part will be available when you complete the part above