Problem 12-9A Condensed financial data of Oriole Company follow Oriole Company Comparative Balance Sheets December 31 2016 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2017 $156,752 170,332 218,250 55,096 267,720 552,900 $93,896 73,720 199,529 50,440 211,460 470,450 (97,000 (100,880) $1,324,050 $998,615 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total 32,010 213,400 426,800 453,960 $1,324,050 $197,880 $130,562 40,740 283,240 339,500 204,573 $998,615 Oriole Company Income Statement Data For the Year Ended December 31, 2017 Sales revenue $753,612 Less Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $262,792 24,075 90,210 52,923 9,176 14,550 453,726 Net income $299,886 Additional information: 1. New plant assets costing $194,000 were purchased for cash during the year Old plant assets having an original cost of $111,550 and accumulated depreciation of $94,090 were sold for 2. $2,910 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $50,499 was dedared and paid during the year 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).) Oriole Company Statement of Cash Flows Adjustments to reconcile net income to Page 2 of 3n9, 319 PM