Problem D13-23 Kate Petusky prepared Sandhill Controls" balance sheet and income statement for 2016. Before she could complete the statement of cash flows, she had to leave town to attend to a family emergency. Because the full set of statements must be previded to the auditors today, Sandhill's president, Lance Meyers, has asked you to prepare the statement of cash flows. Meyers has provided you with the balance sheets and income statement that Petusky prepared, as well as some notes she made: For the Year Ended December 31, 2016 Sales revenue 128,000 70,110 57,890 Cost of goods sold Gross margin Selling expense Administrative expense Salaries expense Depreciation expense Interest expense Income before gain and taxes Gain on sale of Land Income tax expense $13,060 8,210 1,920 4,340 47,530 814 Net income 10.454 As of December 31 2016 5,270 % 4,250 6,490 5,500 1,730 34,360 Accounts receivable, net Total current assets Property, plant, &equipment, net 211,620 215,440 $255,110 $259,550 Total Assets Accounts payable Accrued expenses Taxes payable Bonds payable 3,5003 5,98 2,500 2,260 2,140 2,720 60,020 50,380 Total liabilities Common stock Retained earnings 125,090 125,090 61,860 73,120 186,950 198,210 Total liabilities & stockholders' equity 3255,110 $259,550 Total stockholders equity Equipment with an original cost of $35,200 was sold for $20,588. The book value of the equipment was $19,680 . On June 1, 2013, the company purchased new equipment for cash at a cost of $17,780. - At the end of the year the company issued bonds payable for $9,640 cash. The bonds will mature on December 31, 2017 The company paid $21,714 in cash dividends for the year Using the indirect method, prepare Sa (15,000) Controls' statement of cash flows for 2016. (Show amounts that decrease cash flow with either asip, e.g.-15,000 or in parenthesis eg. Sandhill Control Statement of Cash Flows For the Year Ended December 31, 2016 Net cash activities Net cash by activities Net cash activities