CZ Your answer is partially correct. Try again Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balancesheets December 31 sets. 2017 2016 Cash 73,400 33,100 Accounts receivable 85.800 71,200 Inventory 170,200 187,000 Land 101,000 72,800 260,600 200,800 Equipment Accumulated depreciation equipment 66,100 33,900 $596,700 $559,200 Total Liabilities and Stockholders' Equity Accounts payable 35,000 47,500 Bonds payable 151,400 203,400 217,600 174, 100 Common stock ($1 par) Retained earnings 192,700 134,200 Total $596,700 $559,200 Additional information: 1. Net income for 2017 was $103,600. 2. Cash dividends of $45,100 were declared and paid. 3. Bonds payable amounting to $52,000 were redeemed for cash $52,000. 4. Common stock was issued for $43,500 cash. 5. No equipment was sold during 2017, but land was sold at cost. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. 15,000, or in parenthesis e.g. (15,000).)