1. Prepare a statement of cash flows for the year ended December 31, 2017, using the indirect method. Comparative Statement of Financial Position Dec. 31, 2017 Dec. 31, 2016 Equipment € 60,000 € 32,000 Accumulated depreciation—equipment (20,000) (14,000) Long-term investments -0- 18,000 Inventory 6,000 9,000 Accounts receivable 25,000 18,000 Accounts receivable 18,000 14,000 Cash 33,000 10,000 Total assets €122,000 €87,000 Share capital-ordinary € 40,000 €23,000 Retained earnings 28,000 10,000 Bonds payable 37,000 47,000 Accounts payable 17,000 7,000 Total equity and liabilities €122,000 €87,000 Additional information: 1. Net income for the year ending December 31, 2017 was €33,000. 2. Cash dividends of €15,000 were declared and paid during the year. 3. Long-term investments that had a cost of €18,000 were sold for €14,000. 4. Sales for 2017 were €120,000