Statement of Cash Flows-Indirect Mathod The following balances are available for Chrisman Company December 31 2017 2016 Cash $9,600 $12,000 Acunts receivable 24,000 18,000 Inventory 19,100 31,900 Prepaid rent 10,800 7,200 Land 90,000 90,000 Plant and equipment Accumulated depreciation Tatale 480,000 360,000 (78,000) (36,000) $555,500 $483,100 Accounts payable $14,400 $12,000 Income taxes payable 3,600 6,000 Short-term notes payable 42,000 30,000 Bonds payable 90,000 120,000 Common stock 240,000 180,000 Retained earnings Totals 165,500 135,100 $555,500 $483,100 Bonds were retired during 2017 at face value, plant and equipment were acquired for cash, and common stock was issued for cash. Depreciation expense for the year was $42,000. Net income was reported at 630,400. 1. Prepare a statement of cash flows for 2017 using the indirect method in the Operating Activities section, Use the minus sign to indicate cash payments, cash outflows, or decreases in cesh Chrisman Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities Cash Flows from Investing Activities Cash Flows from Financing Activities Cash balanon, December 31, 2016 Cash balance, December 21, 2017