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Taylor Company's comparative balance sheets for December 31 of 2017 and 2016 are shown below Assets Dec 31, 2017Dec 31, 2016 IncreaseDecrease $73,700 23,000 $50,700 Cash Accounts Receivable (net) Inventory Prepaid Expenses Plant Assets Accumulated Depreciation 11,500 33,600 12,500 90,000 12,300 800 31,5002,100 8,700 3,800 76,000 14,000 24,100)18,400)5,700 Total Assets $197,200 133,100 Liabilities and Stockholders' Equity $18,600 13,900 4,700 Accounts Pavable Wages Payable Income Tax Payable Bonds Payable Common Stock, $10 par Additional Paid-in Capital Retained Earnings Treasury Stock 3,200 200 7,700 49,000 65,000 40,000 22,000 (5,300) 3,400 5,8001,900 49,000 55,00010,000 25,00015,000 30,000 8,000 5,300 Total Liabilities and Stockholders' Equity $197,200 133,100 The following information is taken from Taylor's financial records .During 2017, equipment was sold for $17,900. The equipment had an original cost of $32,000 and a current book value of $23,000 1,000 shares of common stock were issued for $25 per share . Depreciation expense for 2017 was $14,700 . Net income for the year was $5,000 Required Prepare the operating activities section of the statement of cash flows for Taylor Company, indirect method. Assume that all accounts payable relate to purchases of inventory Note: The financing activities and investing activities sections have been completed

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