Problems (24 points) l. The co 1. Tha comparative balance sheeta for Gallup Company appear below bal GALLUP COMPANY Comparative Balance Sheets Dec. 31, 2012 Dec 31, 2016 Assets Cash Accounts receivable Inventory Long-term investmenta Land Equipment Accumulated depreciation-equipment 13,000 18,000 32,000 $15,000 24,000 12,000 18,000 25,000 30,000 100,000 60,000 (18,000 (14,000 $110 000 Total assets 205,00 Liabilities and Stockholders Equity Accounts payable Salaries payable Bonds payable Common stock Preferred Stock $ 25,000 5,000 32,000 40,000 100,000 3,000 $13,000 8,000 44,000 15,000 25,000 5.000 Total liabilities and stockholders' equity Additional information: 1. Net income for the year ended December 31, 2017, was $16,00o. 2. Cash dividends of $18,000 were declared and paid during the year. 3. Long-term investments that had a book value of $18,000 vere sold for $16,000. 4. Issued $75,000 of preferred stock in direct exchange for the land. 5. No equipment was sold during the year. Prepare a Statement of Cash Flows using the Indirect Method in proper Required: format on the next page