The comparative balance sheets and income statement for Jordan Corporation follow:

Balance Sheets As of December 31
	2017				2016
Assets
Cash	$	63,030			$	41,350
Accounts receivable		33,027				24,220
Merchandise inventory		154,838				170,320
Prepaid rent		2,370				4,740
Equipment		260,860				288,470
Accumulated depreciation		(144,940	)			(231,010	)
Land		194,030				82,730
Total assets	$	563,215			$	380,820
Liabilities
Accounts payable (inventory)	$	66,727				75,690
Salaries payable		33,343				28,580
Stockholders equity
Common stock, $50 par value		247,500				201,500
Retained earnings		215,645				75,050
Total liabilities and equity	$	563,215			$	380,820

Income Statement For the Year Ended December 31, 2017
Sales	$	1,496,000
Cost of goods sold		(795,075	)
Gross profit		700,925
Operating expenses
Depreciation expense		(22,940	)
Rent expense		(20,050	)
Salaries expense		(257,520	)
Other operating expenses		(259,820	)
Net income	$	140,595

Other Information

1. Purchased land for $111,300.

2. Purchased new equipment for $103,100.

3. Sold old equipment that cost $130,710 with accumulated depreciation of $109,010 for $21,700 cash.

4. Issued common stock for $46,000.

Required

Prepare the statement of cash flows for 2017 using the indirect method. (Amounts to be deducted and cash outflows should be indicated by a minus sign.)

JORDAN CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2017
Cash flows from operating activities:
Add: Increases in current assets and Decreases in current liabilities:
Less: Increases in current assets and Decreases in current liabilities:
Plus: Noncash charges
		$0
Cash flows from investing activities:
		0
Cash flows from financing activities:
		0
		0
Ending cash balance		$0