The 2017 and 2016 balance sheets of Walker Corporation follow. The 2017 income statement is also provided. Walker had no noncash investing and financing transactions during 2017. During the year, the company sold equipment for $15,300, which had originally cost $13,000 and had a book value of $10,900. The company did not issue any notes payable during the year but did issue common stock for S34,000. The company purchased plant assets and long-term investments with cash (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Requirements 1. Prepare the statement of cash flows for Walker Corporation for 2017 using the indirect method. . 2. Evaluate the company's cash flows for the year. Discuss each of the categories of cash flows in your response. Requirement 1. Prepare the stalement of cash Nons for Walker Corporation for 2017 using the indirect method Prepare the statement one section at a time. (Use parentheses pra minus sign for numbers to be subtracted or for a net cash outflow.) Walker Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: 7 Net cash provided by (used for operating activities Investing Activities: Net cash provided by (used for) investing activities Financing Activities: Net cash provided by (used for) financing activities Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year Requirement 2. Evaluate the company's cash flows for the year. Discuss each of the categories of cash flows in your response. West Corporation's cash flows look They had provided by operating activities. The investing activities some cash. These activities included The financing activities cash Vand The corporation also Income Statement Walker Corporation Income Statement For the Year Ended December 31, 2017 Sales revenues $ 350,000 70,000 Less: Cost of goods sold Gross profit $ 280,000 Less operating expenses: Salaries and wages expense $ 26,000 Depreciation expense 4,800 15,000 Other operating expenses 45,800 Total operating expenses Operating income Plus other income and less other expenses: $ 234,200 Interest expense 9,200 4,400 Gain on sale of PP&E Total other income and expenses 4,800 Income before income taxes 229,400 38,100 Less: Income tax expense $ 191,300 Net income