Statement of cash flows (Wileyplus)

Assets 2017 2016 Land 72,810 100,830 Equipment 260,850 199,150 Accumulated depreciation- (65,820) (33,930) equipment Inventory 170,320 186,560 Accounts receivable 86,270 70,920 Cash 73,020 33,200 Total 597,450 556,730 Equity and Liabilities Share capital-ordinary (C1 215,920 par) 172,130 Retained earnings 195,470 133,300 Bonds payable 150,900 203,860 Accounts payable 35,160 47,440 Total C597,450 556,730 Additional information: 1. Net income for 2017 was 102,790. 2. Depreciation expense was 31,890. Cash dividends of 40,620 were 3. declared and paid. Bonds payable amounting to 4. 52,960 were redeemed for cash 52,960. Ordinary shares were issued for 5. 43,790 cash. 6. No equipment was sold during 2017. Land was sold for its book value of 7. 28,020. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to 1