Zimmerman Company had the following information in its 2017 statements: Condensed Income Statement Sales $9,000 Cost of Goods Sold (6,000) Interest Expense (70) Other Expenses (2,000) Loss on Sale of Equipment (260) Gain on Sale of Land 400 Income Tax Expense 300 Net Income $ 840 Comparative Balance SheetsDecember 31 2015 2016 Cash $ 700 $1,130 Accounts Receivable 450 310 Inventory 350 400 Land 300 500 Equipment 1,600 1,800 Less: Accumulated Depreciation (200) (150) Total Assets $3,200 $ 3,990 Accounts Payable $ 600 $ 750 Bonds payable 1,000 1,000 Common Stock, $10 par 900 1,400 Retained Earnings 700 840 Total Liabilities and Stockholders Equity $3,200 $3,990 Additional Information The equipment was sold for cash. The original cost was $400 and the book value was $300. The land was sold for $530 in cash. Fifty shares of stock were issued. Required: Prepare a statement of cash flows for 2016, in good form, using the direct method.