Shown below are comparative balance sheets for Novak Company. Novak Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash $ 115,668 $ 37,422 Accounts receivable 149,688 129,276 Inventory 284,067 321,489 Land 136,080 170,100 Equipment 442,260 340,200 Accumulated depreciationequipment (112,266 ) (54,432 ) Total $1,015,497 $944,055 Liabilities and Stockholders Equity Accounts payable $ 66,339 $ 73,143 Bonds payable 255,150 340,200 Common stock ($1 par) 367,416 295,974 Retained earnings 326,592 234,738 Total $1,015,497 $944,055 Additional information: 1. Net income for 2017 was $158,193. 2. Depreciation expense was $57,834. 3. Cash dividends of $66,339 were declared and paid. 4. Bonds payable amounting to $85,050 were redeemed for cash $85,050. 5. Common stock was issued for $71,442 cash. 6. No equipment was sold during 2017. 7. Land was sold for its book value. Prepare a statement of cash flows for 2017 using the indirect method.