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Problem 17-7A The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 $35,850 Accumulated depreciation-equipment uabilities and Stockholders Equity $28M650 16,250 Income taxes payable 8,250 4,900 Retained earnings NOSKER COMPANY Income Statement For the Year Ended December 31.2017 Sales revenue $242,750 Cost of goods sold Gross profit 66,900 Operating expenses Income from operations Interest expense Income before income taxes Income tax expense 7050 Net income Additional data 1. Dividends declared and paid were $29,400. 2. During the year equipment was sold for s8,300 cash. This equipment cost $17,350 originally and had a book value of $9,050 at the time of sale. 3. All depreciation expense, $14,950, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Showy amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows Adjustments to reconcile net income to