Talisman Company Comparative Balance Sheets December 31, 2016 2016 Assets 2015 Cash TK. 63,000 TK. 22,000 Accounts receivable 85,000 76,000 Inventories 180,000 189,000 Land 75,000 100,000 Plant & Equipment 260,000 200,000 Accumulated Depreciation (66,000) (42,000) TOTAL TK 597.000 TK. 545.000 Liabilities and Stockholders' Equity 2016 2015 Accounts payable TK. 34,000 TK. 47,000 Bonds payable 150,000 200,000 Common Stock (TK 1 1 par) 214,000 164,000 Retained earnings 199,000 134,000 TOTAL TK. 597,000 TK. 545.000 Additional Information: Introduction to Financial Accounting ACT 101/1123, Final Assessment, Summer 2021 Page 3 of 5 1. Net income for 2016 was TK 125,000 2. Depreciation expense is TK 24,000 3. Common Stock (TK 1 par) of TK. 50,000 was issued for cash 4. A cash dividend of 60,000 were declared and paid during the year 5. Bonds payable amounting to TK 50,000 were redeemed for cash TK 50,000 received from Common stock 6. Sales for the year were TK 978,000 Required: Prepare a statement of Cash Flow using indirect method