Use the income statement of Flashpoint Consulting Ltd. in Exercise 17-11 plus these additional data during fiscal year 2017:
a. Acquisition of computer equipment was $232,000. Of this amount, $202,000 was paid in cash and $30,000 by signing a long-term note payable. Flashpoint Consulting Ltd. Sold no computer equipment during fiscal year 2017.
b. Cash received from sale of land, $20,000.
c. Cash received from issuance of common shares, $84,000.
d. Payment of long-term note payable, $40,000.
e. Payment of dividends, $130,000.
f. Change in cash balance, $?
g. From the comparative balance sheet:

Required
1. Prepare Flashpoint Consulting Ltd.'s cash flow statement for the year ended September 30, 2017, using the indirect method.
2. Evaluate Flashpoint Consulting Ltd.'s cash flows for the year. In your evaluation, mention all three categories of cash flows and give the reason for your evaluation.

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FLASHPOINT CONSULTING LTD Balance Sheet (partial) September 30, 2017 and 2016 2017 2016 Current assets: Cash Accounts receivable Office supplies Prepaid expenses $56,000 30,000 18,000 10,000 $36,000 144,000 6,000 10,000 Current liabilities Accounts payable Accrued liabilities $68,000 38,000 $56,000 42,000