Required: Prepare a cash flow statement, in good form, using the indirect method for operating activities, The income statement of Orion Company for the year ended December 11, 2017 is as follow Onion Company Income Statement for the Year Ended December 31, 2017 1,000,000 2,000 44,000 1.616.00 Orion Company's comparative balance sheets for 2016 and 2017 are presented below Orion Company Balance Sheets December 31 Increase 2017 2016 Decrease) Assets Cash 337,000 246.000 91.000 Accounts receivable.net 420,000 280.000 140,000 Marketable writies 15,000 0 15.000 Inventaries 520,000 440.000 80,000 Land 650.000 400,000 250.000 Plant and equipment 1.100.000 1.266.000 (106.000) Less: Accumulated depreciation (180,000 200,000) 20,000 Total assets 2.922,000 2.432.000 490,000 Liabilities and Stockholders' Equity Liabilities Accounts payable 500.000 160,000 Accrued wages 540,000 520,000 20,000 Long-term bonds due 7/1/202) 260.000 360.000 (TOULOO) Total liabilities 1,400,00 1.100.000 NO.000 Stockholders equity Comment stock and APIC 750,000 206,000 Retained cam 196.000 292.000 204,000 Total stockholderiquity 1.462.000 1.052.000 410,000 Total liabilities and stockhold equity 2.222.000 2.432.000 490,000 Sales Gain ce sale of marketable secunities Gain on extinguishment of deht Total revenue and gain Expenses Cost of goods sold Perwelt Depreciation Loss on sale of equipment Interest Miscellaneous Total expenses Income before scum ases Income tax expertise Net income 720,000 285,000 40,000 8.000 32.000 16,000 1.202.000 414,000 200,000 314000) Other informatica 1. On Jan 11, 2017 Orion purchased land for $170,000 cash 2. On Jan 23, 2017. Orion extinguished long tom honds with a face value of S100.000 On Feb, 2017. Orione ,400 shares of common stock for cash. The stock was issued at $15 pet share 4. Onon purchased marketable wearities for SM0.000 on Mar 15, 2017, one-half of the securities were later sold on 2, 2017 5. On June, 2017. Orion id 7.000 shares of common stock for land. The common stock and land had centurket value of 580.000 the time of the transaction 6. On July 1, 2017 Orion declared and paid a $40,000 cash dividend 7. On a 2012.Orion sont com 106.001), with a bookdal of $6.000 for $3,000 cash