# I will like to know how to do this by showing step by step. please...

###### Question: I will like to know how to do this by showing step by step. please

1. Net income was $22,630, Dividends declared and paid were$19,500. 2. No noncash investing and financing activities occurred during 2017. 3. The land was sold for cash of $4,900. 5y 6000 Instructions (a) Prepare a statement of cash flows for 2017 using the indirect method. (b) Compute free cash flow Prepare a statement of cash flows-indirect method. statement E17-8 Here are comparative balance sheets for Velo Company (LO 2) ick Corp. VELO COMPANY Comparative Balance Sheets December 31 2017 2016 Assets 63,0001DO0$ 22,000 76,000 ore he cos Cash Balance 85,000 1000 Accounts receivable 170,000 0 189,000 75,000 2500 100,000 270,000 7o0o 200,000 (66,000) 3u,00 (32,000) $555,000 Inventory 160,000 230,000 283,000 234,000 Land Equipment Accumulated depreciation-equipment Total$597,000 Balance Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 39,000 00 47,000 150,000 Sa00 200,000 216,000 2pao 174,000 192,000 0o 134,000 Ad 93, 00 0 71,000 Compared 192,00 41,000 69,000 Total$597,000 $555.000 lance Additional information: 5,000 1,000 3,000 1. Net income for 2017 was$93,000. 2. Cash dividends of $35,000 were declared and paid. 3. Bonds payable amounting to$50,000 were redeemed for cash $50,000. 4. Common stock was issued for$42,000 cash. 5. No equipment was sold during 2017, but land was sold at cost. ate- Instructions was Prepare a statement of cash flows for 2017 using the indirect method. ion Prepare statement of cash flows and compute free cash flow E17-9 Rodriquez Corporation's comparative balance sheets are presented below. RODRIQUEZ CORPORATION Comparative Balance Sheets (LO 2, 3)

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