The Barden Corporation's comparative balance sheets for 2017 and 2016 are presented below.
Barden Corporation
Balance Sheets

The income statement of Barden Corporation for the year ended December 31, 2017, is as follows:
Barden Corporation
Income Statement for the Year Ended December 31, 2017
Sales................................................$1,600,000
Gain on sale of marketable securities..................2,000
Gain on extinguishment of debt......................44,000
Total revenue and gains...........................1,646,000
Expenses:
Cost of goods sold...................................720,000
Personnel costs.......................................386,000
Depreciation............................................40,000
Loss on sale of equipment..............................8,000
Interest..................................................32,000
Miscellaneous..........................................16,000
Total expenses......................................1,202,000
Income before income taxes........................444,000
Income tax expense.................................200,000
Net income.........................................$ 244,000
Additional Information:
a. On January 11, 2017, Barden purchased land for $170,000 cash.
b. On January 23, 2017, Barden extinguished long-term bonds with a face value of $100,000.
c. On February 8, 2017, Barden issued 8,400 shares of common stock for cash. The stock was issued at $15 per share.
d. Barden purchased marketable securities for $30,000 on March 15, 2017; one-half of the securities were later sold on December 3, 2017.
e. On June 9, 2017, Barden issued 7,600 shares of common stock for land. The common stock and land had current market values of $80,000 at the time of the transaction.
f. On July 1, 2017, Barden declared and paid a $40,000 cash dividend.
g. On October 18, 2017, Barden sold equipment costing $106,000, with a book value of $46,000, for $38,000 cash.
Required:
Prepare a cash flow statement using the indirect method for operating activities.

December 31 Increase 2017 2016 (Decrease) Assets Cash Accounts receivable, net Marketable securities Inventories Land Plant and equipment Less: Accumulated depreciation Total assets 337,000 246,000 280,000 420,000 15,000 520,000 650,000 1,160,000 180,000) $2,922,000 $91,000 140,000 15,000 80,000 250,000 (106,000) 20,000 $490,000 440,000 400,000 1,266,000 (200,000) $2,432,000 Liabilities and Stockholders' Equity Liabilities Accounts payable Accrued wages Long-term bonds (due 7/1/2023) Total liabilities 660,000 540,000 260,000 1,460,000 500,000 520,000 360,000 1,380,000 $160,000 20,000 (100,000) 80,000 Stockholders' equity: Common stock and Additional paid-in capital Retained earnings Total stockholders' equity 966,000 496,000 1,462,000 $2,922,000 760,000 292,000 1,052,000 $2,432,000 206,000 204,000 410,000 $490,000 Total liabilities and stockholders' equity