Question: The following are comparative balance sheets for Mitch Company
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.