The comparative balance sheets for Bonita Industries as of December 31 are presented below. Bonita Industries Comparative Balance Sheets December 31 Assets 2017 Cash $ 80,580 Accounts receivable 59,250 Inventory 179,468 Prepaid expenses 18,107 Land 171.829 Buildings 237,000 Accumulated depreciation--buildings (71.100) Equipment 266,625 Accumulated depreciation-equipment (53,325) Total $888.430 2016 $53,325 68,730 168,270 24,885 154,050 237,000 (47.400) 183,675 (41,475) $801,060 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock. $1 par Retained earnings Total $ 53,005 355,500 237,000 242,925 $888.430 $ 42,660 355,500 189,600 213,300 $801,060 1. Additional information: Operating expenses include depreciation expense of $49,770. Land was sold for cash at book value. Cash dividends of $14,220 were paid. Net income for 2017 was $43,845. Equipment was purchased for $109,020 cash. In addition, equipment costing $26,070 with a book value of $11,850 was sold for $9.480 cash. 47,400 shares of $1 par value common stock were issued in exchange for land with a fair value of $47,400. 2. 3 4. 5. 6. Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis es. (15,000).) Bonita Industries Statement of Cash Flows Adjustments to reconcile net income to - . $