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In: AccountingBonita Industries reported the following information for2017.Bonita IndustriesComparative Balance SheetsDecember 31Assets...Bonita Industries reported the following information for2017.Bonita IndustriesComparative Balance SheetsDecember 31Assets20172016ChangeIncrease/DecreaseCash$65,990$36,180$29,810IncreaseAccounts receivable62,11022,22039,890IncreaseInventory43,610–0–43,610IncreasePrepaid expenses5,9603,9801,980IncreaseLand54,55070,57016,020DecreaseBuildings198,140198,140–0–Accumulated depreciation—buildings(21,120)(14,080)7,040IncreaseEquipment182,42068,470113,950IncreaseAccumulated depreciation—equipment(28,360)(9,970)18,390Increase Totals$563,300$375,510Liabilities and Stockholders’ EquityAccounts payable$43,320$40,140$3,180IncreaseAccrued expenses payable010,03010,030DecreaseBonds payable99,680149,23049,550DecreaseCommon stock ($1 par)229,49060,120169,370IncreaseRetained earnings190,810115,99074,820Increase Totals$563,300$375,510Bonita IndustriesIncome StatementFor the Year Ended December 31, 2017Sales revenue$946,400Cost of goods sold$476,940Operating expenses230,920Interest expense12,090Loss on disposal of equipment2,010721,960Income before income taxes224,440Income tax expense64,840Net income$159,600Additional information:1.Operating expenses include depreciation expense of$39,740.2.Land was sold at its book value for cash.3.Cash dividends of $84,780 were declared and paid in 2017.4.Equipment with a cost of $164,470 was purchased for cash.Equipment with a cost of $50,520 and a book value of $36,210 wassold for $34,200 cash.5.Bonds of $49,550 were redeemed at their face value forcash.6.Common stock ($1 par) of $169,370 was issued for cash.Use this information to prepare a statement of cash flows using theindirect method.