VELO COMPANY Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 72,600			$ 33,000
Accounts receivable		86,300			71,400
Inventory		170,500			186,600
Land		73,800			100,800
Equipment		260,000			200,800
Accumulated depreciationequipment		(65,900	)		(34,100	)
Total		$597,300			$558,500
Liabilities and Stockholders Equity
Accounts payable		$ 35,400			$ 47,000
Bonds payable		151,100			204,000
Common stock ($1 par)		214,900			174,700
Retained earnings		195,900			132,800
Total		$597,300			$558,500

Additional information:

1.		Net income for 2017 was $104,800.
2.		Cash dividends of $41,700 were declared and paid.
3.		Bonds payable amounting to $52,900 were redeemed for cash $52,900.
4.		Common stock was issued for $40,200 cash.
5.		No equipment was sold during 2017, but land was sold at cost.

Prepare a statement of cash flows for 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).)

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VELO COMPANY Statement of Cash Flows Adjustments to reconcile net income to Co