Help me solve this problem 21-1

Problem 12-1 Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: December 31 2017 2016 Cash Accounts receivable Inventory Prepaid rent Land Plant and equipment Accumulated depreciation Totals Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $ 8,000 20,000 15,000 9,000 75,000 400,000 (65,000) $462,000 $ 12,000 3,000 35,000 75,000 200,000 137,000 $462,000 $ 10,000 15,000 25,000 6,000 75,000 300,000 (30,000) $401,000 $ 10,000 5,000 25,000 100,000 150,000 111,000 $401,000 Bonds were retired during 2017 at face value, plant and equipment were acquired for cash, and common stock was issued for cash. Depreciation expense for the year was $35,000. Net income was reported at $26,000. Required 1. Prepare ities section. a statement of cash flows for 2017 using the indirect method in the Operating Activ- 2. Did Chrisman generate sufficient cash from operations to pay for its investing activities: How did it generate cash other than from operations? Explain your answers. Using a Work Sheet-Indirect