TASK B Here are comparative statements of financial position for Syal SE. SYAL SE Comparative Statements of Financial Position December 31 Assets Land Equipment Accumulated depreciation-equipment Inventory Accounts receivable Cash 2016 2017 73,000 260,000 (66,000) 170,000 85,000 73,000 100,000 200,000 (34,000) 187,000 71,000 33,000 557,000 Total 595,000 Equity and Liabilities Share capital-ordinary (1 par) Retained earnings Bonds payable Accounts payable 216,000 194,000 50,000 35,000 595,000 174,000 136,000 200,000 47,000 Total 557,000 Additional information: 1. Net income for 2017 was 103,000. 2. Depreciation expense was 632,000. 3. Cash dividends of 45,000 were declared and paid. 4. Bonds payable amounting to 50,000 were redeemed for cash 650,000. 5. Ordinary shares were issued for 42,000 cash. 6. No equipment was sold during 2017. 7. Land was sold for its book value of 27,000. Instructions prepare a statement of cash flows for 2017 using the indirect method