*Problem 17-9A Condensed financial data of Cheng Inc. follow CHENG INC Balance Sheets December 31 2017 2016 ssets Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment $106,200 91,600 111,800 29,400 140,500 264,200 $47,400 33,900 101,500 25,500 114,800 242,100 500) (52,900) Total $697,200 $512,300 Liabilities and Stockholders Equit Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $111,300 $67,100 17,300 149,300 174,700 103,900 $697,200 $512,300 16,100 111,000 220,000 238,800 Total CHENG INC For the Year Ended December 31, 2017 Sales revenue Less $392,900 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $136,000 12,700 31,000 27,600 4,400 7,500 219,200 $173,700 Net income Additional information: 1. New equipment costing $79,900 were purchased for cash during the year 2. Old equipment having an original cost of $57,800 was sold for $12,900 cash 3. Bonds matured and were paid off at face value for cash 4. A cash dividend of $38,800 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).)