The following information is available for the AR Corporation:

The following information is available for the AR Corporation:

AR Corporation

Income Statement

For the Year Ended December 31, 2017

Service Revenue                                                                                 $ 900,000

Operating Expenses                                                                            700,000       

    Operating Income                                                                         $ 200,000

Gain on Investment Sale                                                                         10,000

    Net income Before Income Taxes                                                 $ 210,000

Loss on Sale of Investments                                                                    25,000

                                                                                                            $ 185,000

Income Tax Expense                                                                               90,000

  Net Income                                                                                     $  95,000

The following partial balance sheet information is also available for 2015 and 2014:

                                                                       2017               2016

Cash                                                            $ 655,000        $ 435,000

Accounts Receivable                                     120,000            100,000

Merchandise Inventory                                   40,000             50,000

Supplies                                                           10,000              20,000

L.T. Investments                                            35,000              80,000

Accounts Payable                                             70,000              60,000

Income Taxes Payable                                     10,000             15,000

In addition, the following transactions took place during 2017:

1. Common stock was issued for $100,000 cash.

2. Long-term investments were sold for $55,000.

3. Cash dividends of $80,000 were paid.

4. The operating expenses included depreciation of $30,000.

Required: Prepare in good form, a cash flow statement for 2017 using the indirect method for AR Corporation.

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