The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is shown as follows:

Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows:
A. The investments were sold for $280,000 cash.
B. Equipment and land were acquired for cash.
C. There were no disposals of equipment during the year.
D. The common stock was issued for cash.
E. There was a $199,540 credit to Retained Earnings for net income.
F. There was a $96,000 debit to Retained Earnings for cash dividends declared
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.

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Dec. 31, 2016 Dec. 31, 2015 Assets 3 Cash 4 Accounts receivable (net) 5 Inventories 6 Investments 7 Land 8 Equipment 9 Accumulated depreciation-equipment 10 Total assets 11 Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) 13 Accrued expenses payable (operating expenses) 14 Dividends payable 15 Common stock, $4 par 16 Paid-in capital: Excess of issue price over par -common $625,760.00 $585,920.00 227,840.00 208,960.00 641,760.00 617,120.00 0.00 240,000.00 0.00 705,120.00 553,120.00 (166,400.00) (148,000.00) $2,362,080.00 $2,057,120.00 328,000.00 $424,480.00 $404,960.00 42,240.00 52,640.00 24,000.0019,200.00 150,000.00 100,000.00 417,500.00 280,000.00 1,303,860.00 1,200,320.00 $2,362,080.00 $2,057,120.00 stock 17 Retained earnings 18 Total liabilities and stockholders equity