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New IdU Shown below are comparative balance sheets for Mitch Company. Mitch Company Comparative Balance Sheets December 31 Assets 2017 2016 Cash $22,000 Accounts receivable Inventory Land $68,000 88,000 167,000 80,000 260,000 (66,000) $597,000 76,000 189,000 100,000 200.000 Equipment Accumulated depreciation-equipment Total (32,000) $555,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) $ 39,000 150,000 216,000 192,000 $597,000 $43.000 200.000 174,000 138,000 $555.000 Retained earnings Total Additional information: 1. Net income for 2017 was $93.000. 2. Depreciation expense was $34,000. 3. Cash dividends of $39.000 were declared and paid. 4. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 5. Common stock was issued for $42.000 cash 6. No equipment was sold during 2017. 7. Land was sold for its book value. Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a-signes -45,000, or in parenthesis eg.(45,000)). Mitch Company Statement of Cash Flows Adjustments to reconcile net income to Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a signes -45,000, or in parenthesis eg. (45,000)). Mitch Company Statement of Cash Flows Adjustments to reconcile net income to X G Presented below are the financia x C ure.com/courses/104956/assignments/733148 5.32:CNF New Tab Get Homework Help With Che X + arch e Textbook and Media Attempts: 0 of 5 used Save for Later r Prev Send to Gradebook