Q5. Here are comparative balance sheets for Taguchi Company. TAGUCHI COMPANY Comparative Balance Sheets 31-Dec-17 Assets 2017 2016 Cash 73,000 22.000 Accounts receivable 85,000 76,000 Inventories 170,000 189,000 Land 75.000 100.000 Equipment 260,000 200,000 Accumulated depreciation (66,000) (32,000) Total 597,000 555,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock (S1 par) Retained earnings Total 39,000 47,000 150,000 200,000 216,000 174,000 192,000 134,000 597,000 555,000 Additional information: 1. Net income for 2010 was $103,000. 2. Cash dividends of $45,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $42,000 cash. 5. No equipment was sold during 2010, but land was sold at cost. Instructions Prepare a statement of cash flows for 2010 using the indirect method. (8 marks)