The comparative balance sheets for Waterway Industries as of December 31 are presented below.

Waterway Industries Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 79,628			$ 52,695
Accounts receivable		58,550			67,918
Inventory		177,348			166,282
Prepaid expenses		17,893			24,591
Land		169,795			152,230
Buildings		234,200			234,200
Accumulated depreciationbuildings		(70,260	)		(46,840	)
Equipment		263,475			181,505
Accumulated depreciationequipment		(52,695	)		(40,985	)
Total		$877,934			$791,596
Liabilities and Stockholders Equity
Accounts payable		$ 52,379			$ 42,156
Bonds payable		351,300			351,300
Common stock, $1 par		234,200			187,360
Retained earnings		240,055			210,780
Total		$877,934			$791,596

Additional information:

1.		Operating expenses include depreciation expense of $49,182.
2.		Land was sold for cash at book value.
3.		Cash dividends of $14,052 were paid.
4.		Net income for 2017 was $43,327.
5.		Equipment was purchased for $107,732 cash. In addition, equipment costing $25,762 with a book value of $11,710 was sold for $9,368 cash.
6.		46,840 shares of $1 par value common stock were issued in exchange for land with a fair value of $46,840.

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 - sign e.g. -15,000 or in parenthesis e.g. (15,000).)