The following are Sunland Corp.'s comparative balance sheet accounts at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017 COMPARATIVE BALANCE SHEETS Increase 2017 2016 (Decrease) Cash $810,200 $698,000 $112,200 1,116,700 Accounts receivable 1,164,400 (47,700 1,731,700 132,300 Inventory 1,864,000 3,277,200 2,940,600 Property, plant, and equipment 336,600 (1,162,400) Accumulated depreciation (1,037,400) (125,000) Investment in Myers Co. 274,500 309,100 34,600 Loan receivable 251,100 251,100 $694,100 Total assets $6,465,900 $5,771,800 Accounts payable $1,008,800 $948,500 $60,300 Income taxes payable 50,300 (20,400) 29,900 Dividends payable 79,900 99,200 (19,300) Lease liabililty 397,200 397,200 Common stock, $1 par 500,000 500,000 Paid-in capital in excess of par-common stock 1,488,300 1,488,300 Retained earnings 2,685,500 2,961,800 276,300 $694,100 Total liabilities and stockholders' equity $6,465,900 $5,771,800 Additional information: 1. On December 31, 2016, Sunland acquired 25% of Myers Co.'s common stock for $274,500. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values,, was $1,098,000. Myers reported income of $138,400 for the year ended December 31, 2017. No dividend was paid on Myers's common stock during the year. 2. During 2017, Sunland loaned $296,600 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $45,500, plus interest at 10%, on December 31, 2017. 3. On January 2, 2017, Sunland sold equipment costing $60,600, with a carrying amount of $38,000, for $40,000 cash 4. On December 31, 2017, Sunland entered into a capital lease for an office building. The present value of the annual rental payments is $397,200, which equals the fair value of the building. Sunland made the first rental payment of $59,400 when due on January 2, 2018. 5. Net income for 2017 was $356,200. 6. Sunland declared and paid the following cash dividends for 2017 and 2016. 2017 2016 Declared December 15, 2017 December 15, 2016 Paid February 28, 2018 February 28, 2017 $79,900 Amount $99,200 Prepare a statement of cash flows for Sunland Corp. 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).) SUNLAND CORP. Statement of Cash Flows Adjustments to reconcile net income to