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Exercise 13-8 Here are comparative balance sheets for Velo Company VELO COMPANY Comparative Balance Sheets December 31 2017 2016 ssets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment $ 72,600 33,300 71,200 187,400 101,500 199,700 (33,600 $595,700 $559,500 86,100 169,800 72,600 260,100 65,500 Total Liabilities and Stockholders' Equit Accounts payable Bonds payable Common stock ($1 par) Retained earnings $35,100 47,300 203,700 174,900 95.400 133,600 148,200 217,000 195,400 133,600 $595,700 $559,500 Total Additional information: 1. Net income for 2017 was $101,600 2. Cash dividends of $39,800 were declared and paid. 3. Bonds payable amounting to $55,500 were redeemed for cash $55,500 4. Common stock was issued for $42,100 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).)