Tamarisk, Inc. Balance Sheets Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 2017 $51,880 62,040 43,890 6,050 54,900 198,760 Change Increase/Decrease $15,740 Increase 40,130 Increase 43,890 Increase 2,080 Increase 14,710 Decrease 2016 $36,140 21,910 3,970 69,610 198,760 (20,820) (13,880) 6, 182,430 (27,290) 68,400 (10,030) 6,940 Increase 114,030 Increase 17,260 Increase $551,840 $374,880 Totals Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings $42,610$39,860 10,030 101,880 151,380 60,220 113,390 $551,840 $374,880 $%2,750 Increase 10,030 Decrease 49,500 Decrease 171,350 Increase 62,390 Increase 231,570 175,780 Totals Tamarisk, Inc. For the Year Ended December 31, 2017 $934,100 Sales revenue Cost of goods sold Operating expenses Interest expense Loss on disposal of equipment Income before income taxes Income tax expense Net income $478,680 230,070 11,960 1,990 722,700 211,400 64,770 $146,630 Additional information: 1. Operating expenses i 2. Land was sold at its book value for cash 3. Cash dividends of $84,240 were declared and paid in 2017 4. Equipment with a cost of $165,530 was purchased for cash. Equipment with a cost of $51,500 and a book value of $35,710 was sold for $33,720 cash. 5. Bonds of $49,500 were redeemed at their face value for cash. 6. Common stock ($1 par) of $171,350 was issued for cash. eprecia tion expense of $39,990 Use this information to prepare a statement of cash flows 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).) Tamarisk, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to