Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: December 31 Cash Accounts receivable Inventory Prepaid rent Land 2017 $11,600 29,000 23,000 13,100 108,800 580,000 (94,300) $671,200 2016 $14,500 21,800 38,400 8,700 108,800 435,000 (43,500) $583,700 Plant and equipment Accumulated depreciation Totals Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $17,400 4,400 50,800 109,000 290,000 199,600 $671,200 $14,500 7,300 36,300 145,000 217,500 163,100 $583,700 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 $50,800. Net income was reported at $36,500. Required: 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 cash. Chrisman Company Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net income income to net cash provided by operating activities: Cash collected from customers Cash dividends paid Issuance of common stock Net income Net increase in cash Retained earnings O bull101 0 200, $ Cash Flows from Investing Activities $ Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Financing Activities $ DODOOD Cash balance, December 31, 2016 Cash balance, December 31, 2017 2. Based on its statement of cash flows, Chrisman In addition to operating activities, Chrisman generated cash