The comparative balance sheets and an income statement for Rooney Corporation follow: Other Information 1. Purchased land for $112,600. 2. Purchased new equipment for $102,500. 3. Sold old equipment that cost $132,810 with accumulated depreciation of $113,010 for $19,800 cash. 4. Issued common stock for $52,000. Required Prepare the statement of cash flows for 2017 using the indirect method. (Amounts to be deducted and cash outhlows should be indicated by a minus sign.) Less: Increases in current assets and Decreases in current liabilities: Plus: Noncash charges