Problem 17-9A Condensed financial data of Cheng Inc. follow CHENG INC Balance Sheets 2016 548,900 33,100 101,200 25,500 114,000 241,300 (52,600) 2017 Assets Cash Accounts receivable Inventory Prepaid expenses $114,700 92,400 111,400 29,400 140,900 265,600 (46,300) Equipment Accumulated depreciation-equipment Total $708,100 $511,400 Liabilities and Stockholders' Equ Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $67,200 17,200 149,000 219,000 175,500 102,500 $708,100 $511,400 111,500 16,500 114,000 247,100 Total CHENG INC For the Year Ended December 31, 2017 Sales revenue Less: $392,300 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $134,800 11,600 28,700 27,500 4,000 7,500 214,100 $178,200 Net income Additional information: 1. New equipment costing $79,800 were purchased for cash during the year 2. Old equipment having an original cost of $55,500 was sold for $13,000 cash 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $33,600 was declared 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).)