The following are comparative balance sheets for mitch company. prepare a statement of cash flows—indirect method. (lo 2), ap mitch company comparative balance sheets december 31 2017 cash accounts receivable inventory 167,000 land 80,000 equipment 260,000 accumulated depreciation—equipment (66,000) total $597,000 $ 68,000 88,000 liabilities and stockholders’ equity accounts payable bonds payable common stock ($1 par) retained earnings 2017 $ 39,000 150,000 216,000 192,000 total $597,000 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. instructions prepare a statement of cash flows for 2017 using the indirect method.