The comparative balance sheets for Wildhorse Co. as of December 31 are presented below.

Wildhorse Co. Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 93,364			$ 61,785
Accounts receivable		68,650			79,634
Inventory		207,941			194,966
Prepaid expenses		20,979			28,833
Land		199,085			178,490
Buildings		274,600			274,600
Accumulated depreciationbuildings		(82,380	)		(54,920	)
Equipment		308,925			212,815
Accumulated depreciationequipment		(61,785	)		(48,055	)
Total		$1,029,379			$928,148
Liabilities and Stockholders Equity
Accounts payable		$ 61,414			$ 49,428
Bonds payable		411,900			411,900
Common stock, $1 par		274,600			219,680
Retained earnings		281,465			247,140
Total		$1,029,379			$928,148

Additional information:

1.		Operating expenses include depreciation expense of $57,666.
2.		Land was sold for cash at book value.
3.		Cash dividends of $16,476 were paid.
4.		Net income for 2017 was $50,801.
5.		Equipment was purchased for $126,316 cash. In addition, equipment costing $30,206 with a book value of $13,730 was sold for $10,984 cash.
6.		54,920 shares of $1 par value common stock were issued in exchange for land with a fair value of $54,920.

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).)