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  3. 2017 2016 45,000 58,000 142,000 21,000 130,000 200

2017 2016 45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) Assets 68,000 0,000 151,450...

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Accounting

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2017 2016 45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) Assets 68,000 0,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) 749,730 Accounts receivable Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Total 676,000 Liabilities and Stockholders Accounts payable Bonds payable Common stock, $1 par Retained earnings Total 44,730 300,000 200,000 205,000 $749,730 36,000 300,000 160,000 180,000 676,000 Additional information: 1. Operating expenses include depreciation expense of $42,000. 2. Land was sold for cash at book value 3. Cash dividends of $12,000 were paid. 4. Net income for 2017 was $37,000. 5. Equipment was purchased for $92,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $8,000 cash. 6. 40,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $40,000. Instructions Prepare a statement of cash flows for the year ended December 3,2017, using the indirect method

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