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In: AccountingA began operations on January 1, 2016. Below are selected datafrom XYZ Corp.'s balance sheets...A began operations on January 1, 2016. Below are selected datafrom XYZ Corp.'s balance sheets as of December 31, 2016 andDecember 31, 2017.Account December 31, 2016 December 31, 2017Cash 20,000 35,000Accounts Receivable 10,000 33,000Equipment 100,000 109,000Less: Accumulated Depreciation(10,000) (20,000)Current Liabilities 3,000 4,000During 2017, XYZ bought $20,000 of equipment.During 2017, XYZ sold equipment with a cost of $12,000 andaccumulated depreciation of $5,000 for a $2,000 gain.Net income for 2017 was $55,000.Complete the following operating activities section using theindirect method that will be shown on Statement of Cash Flows forthe year ended December 31, 2017.Cash flows from operatingnet income?Depreciation expense?Gain on sale of equipment?Increase in accounts receivable?increase in current liabilities?Net cash provided by operating activities??