The income statement, balance sheet, and additional information for Great Adventures, Inc., are provided below.

Additional Information for 2017:

1.

Borrowed $450,000 in January 2017. Made 12 monthly payments during the year, reducing the balance of the loan by $37,584.

2.

Issued common stock for $1,200,000.

3.

Purchased 12,000 shares of treasury stock for $16 per share.

4)	Reissued 6,000 shares of treasury stock at $17 per share.
5.	Declared and paid a cash dividend of $114,000.

Required:

Prepare the statement of cash flows for the year ended December 31, 2017, using the indirect method.(List cash outflows as negative amounts.)

GREAT ADVENTURES, INC Income Statement For the Year Ended December 31, 2017 Revenues Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $533,000 108,000 Total revenues Expenses $ 641,000 Cost of goods sold (watches) Operating expenses Depreciation expense Interest expense Income tax expense 65,000 303,776 45,000 29,224 54,000 Total expenses 497,000 Net income $ 144,000