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The following financial statements were furnished by the Oak Company: 2017 Oak Company Balance Sheets As of December 31, 2016, and 2017 2016 Assets Cash $16,660 Accounts receivable 6,244 Inventory 9,310 Prepaid expenses 1,263 Plant and equipment 40,776 Accumulated depreciation (6,558) Total assets $67,695 Liabilities and Equity Accounts payable (all relate to inventory purchases) $5,058 Accrued wages payable 1,267 Common stock 37,000 Retained earnings 24,370 Total liabilities and equity $67,695 $18,190 6,853 10,711 2,529 52,500 (8,875) $81,908 $5,928 1.731 37,000 37,249 $81,908 Oak Company Income Statement For the Year Ended December 31, 2017 Sales $41,100 Less cost of goods sold (13,152) Gross margin 27.948 Less wage expense (10,686) Less other operating expenses (1.233) Less depreciation expense (3,150) Net income (loss) $12,879 In 2017, Oak purchased equipment for $25,220 and sold some equipment for its book value (.e., no gain or loss res *(a) Prepare a statement of cash flows using the indirect method. (Enter amounts that decrease cash flow either wi Oak Company Statement of Cash Flows - Indirect method *(a) Prepare a statement of cash flows using the indirect method. (Enter amounts that decrea Oak Company Statement of Cash Flows - Indirect method

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