Question 2 Samuel Corp. has provided the following information for the year ended December 31, 2017. Samuel Corp Comparative Balance Sheet December 31, 2017 and 2016 Increase 2017 2016 (Decrease) Cash $33,000 $13,000 $20,000 Accounts Receivable 29,000 36,000 (7,000) Merchandise Inventory 56,000 29,000 27,000 Plant Assets, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000) Accrued Liabilities 7,000 3,000 4,000 Long-term Notes Payable 70,000 79,000 (9,000) Total Liabilities 86,000 95,000 (9,000) Common Stock 55,000 3,000 52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000) (6,000) (6,000) Total Stockholders' Equity 158,000 75,000 83,000 Total Liabilities and Stockholders' Equity $244,000 $170,000 $74,000 Samuel Corp Income Statement Year ended December 31, 2017 Sales Revenue $291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation ExpensePlant Assets 16,000 Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7,800 Total Expenses 246,300 Net Income $52,000 Additional information provided by the company includes the following: Equipment costing $60,000 was purchased for cash. Equipment with a net book value of $10,000 was sold for $16,000. Depreciation expense of $16,000 was recorded during the year. During 2017, the company repaid $43,000 of long-term notes payable. During 2017, the company borrowed $34,000 on a new long-term note payable. There were no stock retirements during the year. There were no sales of treasury stock during the year. All sales are on credit. Reqirement(s) Prepare the 2017 statement of cash flows, using the indirect method.