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Statement of Cash Flows-Indirect Method The income statement for Astro Inc. for 2017 is as...

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Statement of Cash Flows-Indirect Method The income statement for Astro Inc. for 2017 is as follows: Presented here are comparative Dalance sneets: Other information is as follows: a. Dividends of $26,000 were declared and paid during the year. b. Operating expenses include $70,000 of depreciation. c. Land and plant and equipment were acquired for cash, and additional stock was issued for cash. Cash also was received from additional bank loans. The president has asked you some questions about the year's results. He is disturbed with the $109,000 net loss for the year. He notes, however, that the cash position at the end of the year is improved. He is confused about what appear to be conflicting signals: "How could we have possibly added to our bank accounts during such a terrible year of operations?" Required: 1. Prepare a statement of cash flows for 2017 using the indirect method in the Operating Activities section. Use the minus sign to indicate net loss, cash payments, cash outflows, or decreases in cash. Cash Flows from Operating Activities 2. Despite a net loss for the year, Astro was able to increase its cash at the end of the year Astro can increase its net profits by

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