The comparative balance sheet of Mills Engine Co. at December 31, 2016 and 2015, is as follows:

	Dec. 31, 2016			Dec. 31, 2015
Assets
Cash	$ 850,020			$ 915,020
Accounts receivable (net)	773,520			705,520
Inventories	1,173,030			1,079,530
Prepaid expenses	27,200			32,300
Land	292,410			442,010
Buildings	1,351,530			833,020
Accumulated depreciation-buildings	(382,510)			(357,010)
Equipment	476,010			420,760
Accumulated depreciation-equipment	(130,900)			(147,050)
Total	$4,430,310			$3,924,100
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 841,760			$ 888,270
Bonds payable	248,100			0
Common stock, $20 par	292,000			108,000
Paid-in capital: Excess of issue price over par-common stock	701,000			517,000
Retained earnings	2,347,450			2,410,830
Total	$4,430,310			$3,924,100

The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2016 are as follows:

ACCOUNT Land				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance			442,010
Apr. 20	Realized $139,100 cash from sale		149,600	292,410

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance			833,020
Apr. 20	Acquired for cash	518,510		1,351,530

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance				357,010
Dec. 31	Depreciation for year		25,500		382,510

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance			420,760
Jan. 26	Discarded, no salvage		46,300	374,460
Aug. 11	Purchased for cash	101,550		476,010

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance				147,050
Jan. 26	Equipment discarded	46,300			100,750
Dec. 31	Depreciation for year		30,150		130,900

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
May 1	Issued 15-year bonds		248,100		248,100

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance				108,000
Dec. 7	Issued 9,200 shares of common stock for $40 per share		184,000		292,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance				517,000
Dec. 7	Issued 9,200 shares of common stock for $40 per share		184,000		701,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
2016
Jan. 1	Balance				2,410,830
Dec. 31	Net loss	30,520			2,380,310
Dec. 31	Cash dividends	32,860			2,347,450

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Mills Engine Co.
Statement of Cash Flows
For the Year Ended December 31, 2016
Cash flows from operating activities:
		$
Adjustments to reconcile net loss to net cashflow from operating activities:
Changes in current operating assets and liabilities:
Net cash flow used for operating activities			$
Cash flows from investing activities:
		$
	$
Net cash flow used for investing activities
Cash flows from financing activities:
	$
		$
Net cash flow from financing activities
			$
Cash at beginning of the year
Cash at end of the year			$