Spears Company is preparing its financial statements for the year ended June 30, 2017. The financial statements are complete except for the statement of cash flows. You have been asked to prepare a statement of cash flows for the year ended June 30, 2017

					Account Balances
					June 30, 2016	June 30, 2017
Debits
Cash					$397,520	$1,128,203
Accounts Receivable					110,000	162,500
Marketable Securities (at cost)					11,700	24,700
Allowance for Change in Value					1,500	2,800
Construction in Process					185,625	526,500
Prepaid Expenses					49,500	13,000
Investments (long-term)					-	17,550
Leased Equipment					-	26,000
Building					33,000	-
Deferred tax asset					5,913	2,860
Land					13,650	13,650
Totals					808,408	1,917,763
Credits
Allowance for doubtful accounts					$6,600	$5,850
Accounts Payable					96,250	273,000
Deferred tax liability					1,100	4,290
Income Taxes Payable					3,850	11,700
Note Payable (long-term)					3,500	-
Accumulated Depreciation on Building					2,750	-
Accumulated Depreciation on Leased Asset					-	3,900
Lease obligation					-	23,400
Interest payable on lease obligation					-	2,340
Bonds payable					-	60,000
Premium on bonds payable					-	1,140
Billings on contruction in process					165,000	422,500
Pension liability					165,000	520,000
Convertible preferred stock, $100 par					9,000	-
Common Stock, $10 par					16,000	26,500
Additional Paid-in Capital					8,700	13,700
Unrealized Increase in Value of Marketable Securities					1,500	2,800
Retained Earnings					329,158	546,643
Totals					808,408	1,917,763

Additional information:
a. Dividends declared and paid totaled $1,500.
b. 300 shares common stock (at par) were issued for cash.
c. On July 1, 2016, convertible preferred stock that had originally been issued at par value were
converted into 500 shares of common stock. The book value method was used to account for the
conversion.
d. The long-term note payable was paid by issuing 250 shares of common stock at the beginning of the
fiscal year.
e. Short-term marketable securities were purchased at a cost of $13,000. The portfolio was increased by
$1,300 to a $27,500 fair value at year-end by adjusting the related allowance account.
f. During the year, a 25% interest in Ricochet Co. was purchased as an investment for $13,000. Ricochet
reported $24,000 in net income for the year and paid dividends of $1,450 to Spears.
g. $4,800 of accounts receivable were written off as uncollectible during the year.
h. Spears inventory consists of Construction-in-Process in excess of the Billings on
Construction-in-Process account balance.
i. A building was destroyed by fire during the year and insurance proceeds of $36,000 were collected.
j. Ten-year, 10% bonds payable were sold on December 31, 2016, at 102, plus accrued interest. Discounts and
premiums are amortized using the straight-line method. Interest is paid with cash semiannually.
k. Spears recorded pension expense of $470,000 for the year.
l. A lease agreement was signed on July 1st, 2016 for the use of equipment worth $26,000. The
company determined that the transaction should be recorded as a capital lease.

Please Prepare Spears Company Statement of Cash Flows for year ended on June 30th, 2017 using the Indirect method. Prepare statement of cash flows in good form with all necessary disclosures, including those of non cash financing and investing activities. thank you! Question does not provide balance sheet, this is all the information given.