Sandhill Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2017 and 2016. SANDHILL LTD Balance Sheet May 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Equipment Accumulated depreciation 2017 2016 $25,400 $47,000 89,000 79,000 185,000 160,000 6,000 7,500 137,000 80,000 320,000 200,000 (78,200) (40,000) $684,200 $533,500 Total assets Liabilities and Shareholders' Equity Accounts payable Dividends payable Income taxes payable Mortgage payable Common shares Retained earnings 43,000 $40,000 7,500 6,000 3,200 7,000 132,000 80,000 219,000 166,000 279,500 234,500 Total liabilities and shareholders' equity $684,200 $533,500 Additional Information: 1. Profit for 2017 was $108,000 Additional Information: 1. Profit for 2017 was $108,000. 2. Common shares were issued for $53,000. 3. Land with a cost of $53,000 was sold at a loss of $20,000. 4. Purchased land with a cost of $110,000 with a $58,000 down payment and financed the remainder with a mortgage note payable. 5. No equipment was sold during 2017 Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. 15, (15,000).)