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

y & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment URCES work 2-2 2-4 2-10 Exercise 12-7 Shown below are comparative balance sheets for Martinez Company. Martinez Company Comparative Balance Sheets December 31 Assets Cash Accounts receivabie 20172016 $ 70,268 242,744 603,666 319,400 638,800 s 217,192 281,072 533,398 255,520 830,440 s by Study Inventory Land Equipment Accumulated depreciation-equipment(210,804)(102,208) Total Liabilities and Stockholders' Equity Accounts payable $1,906,818 $1,772,670 Bonds payable Common stock ($1 par) Retained earnings Total $ 124,566 137,342 638,800 555,756 440,772 $1,906,818 $1,772,670 479,100 689,904 613,248 Additional information: 1. Net income for 2017 was $297,042. 2. Depreciation expense was $108,596. 3. Cash dividends of $124,566 were declared and paid. greement l PrivesyPaley 1 2000-201? Johny?ley,ASoosinc An Rights Reserved. A Div s on ofJohn w lev sons Inc. MacBook Air