Exercise 5-16 (Part Level Submission) A comparative balance sheet for Larkspur Corporation is presented below. December 31 Assets 2017 2016 Cash $ 72,660 $ 22,000 Accounts receivable 83,490 67,830 Inventory 181,490 190,830 Land 72,490 111,830 Equipment 261,490 201,830 Accumulated Depreciation-Equipment (70,490 ) (43,830 ) Total $601,130 $550,490 Liabilities and Stockholders' Equity Accounts payable $ 35,490 $ 48,830 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164,000 Retained earnings 201,640 137,660 Total $601,130 $550,490 Additional information: 1. Net income for 2017 was $127,980. No gains or losses were recorded in 2017. 2. Cash dividends of $64,000 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. Collapse question part (a) Prepare a statement of cash flows for 2017 for Larkspur Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)