Statement of Cash Flows-Indirect Method The comparative balance sheet of Amelia Enterprises, Inc. at December 31, 2016 and 2015, is as follows: Dec. 31, 2016 Dec. 31, 2015 Assets Cash Accounts receivable (net) Merchandise inventory Prepaid expenses Equipment Accumulated depreciation-equipment Total $86,160 132,390 189,130 7,710 385,280 (100,170) $700,500 $105,150 141,750 175,690 5,320 314,770 (77,200) $665,480 Liabilities and Stockholders Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock Retained earnings Total $139,090 199,640 14,000 188,000 124,750 $665,480 $147,110 22,000 340,000 191,390 $700,500 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2016 are as follows Net income, $170,600 Depreciation reported on the income statement, $49,100. Equipment was purchased at a cost of $96,640, and fully depreciated equipment costing $26,130 was discarded, with no salvage realized. The mortgage note payable was not due until 2018, but the terms permitted earlier payment without penalty 8,000 shares of common stock were issued at $20 for cash. Cash dividends declared and paid, $103,960