Prepare a statement of cash flows for 2017 using the indirect method.

Practice Problem 30-1 (Part Level Submission) Sandhill Inc. had the following condensed balance sheet at the end of operations for 2016. SANDHILL INC. BALANCE SHEET DECEMBER 31, 2016 Cash $8,500 Current liabilities $15,300 Current assets other than cash 29,100 Long-term notes payable 25,500 24,400 Equity investments 19,500 Bonds payable 73,500 Plant assets (net) Land 68,100 Common stock 41,100 Retained earnings 27,600 $166,300 $166,300 During 2017, the following occurred. (a) sandhill Inc. sold part of its investment portfolio for $13,000. This transaction resulted in a gain of $4,900 for the company. No unrealized gains or losses were recorded on these investments in 2017. (b) Dividends totaling $9,200 were paid to stockholders. (c) Atract of land was purchased for $12,100. (d) Net income was $35,900 after allowing depreciation of $13,500. (e) Bonds payable in the amount of $11,200 wereredeemed at par. (f) Land was purchasedthrough the issuance of $22,100 in bonds. (g) An additional $9,800 in common stock was issued at par Ch) Both current assets (other than cash) and current liabilities remained at the same amount