As of December 31, 2018, The Halifax Fishing Museum, a private not-for-profit organization, had unrestricted cash of $52,000, building and land with a net book value of $145,000, and permanently restricted collections totaling $ 105,000. There were no liabilities. The Museum has two programs: Operation of a Fishing Museum and Educational Programs. During the year ended December 31, 2019 the Museum incurred the following transactions: Cash contributions to the Museum included (a) unrestricted $ 512,000, (mb) restricted by the donor for educational programs, $ 37,000 and (c) restricted by the donor for endowment purposes, $120,000. Additional unrestricted cash receipts included $ 29,000 in fees from individuals and organizations using the Museum building as a meeting facility. Included in this is $ 3,000 for a meeting to be held in January 2020. Incurred cash expenses:

Exercise 12-7 shown below are comparative balance sheets for flint corporation. flint corporation comparative balance sheets december 31 assets 2017 2016 cash $ 201,348 $ 65,142 accounts receivable 260,568 225,036 inventory 494,487 559,629 land 236,880 296,100 equipment 769,860 592,200 accumulated depreciation—equipment (195,426 ) (94,752 ) total $1,767,717 $1,643,355 liabilities and stockholders’ equity accounts payable $ 115,479 $ 127,323 bonds payable 444,150 592,200 common stock ($1 par) 639,576 515,214 retained earnings 568,512 408,618 total $1,767,717 $1,643,355 additional information: 1. net income for 2017 was $275,373. 2. depreciation expense was $100,674. 3. cash dividends of $115,479 were declared and paid. 4. bonds payable amounting to $148,050 were redeemed for cash $148,050. 5. common stock was issued for $124,362 cash. 6. no equipment was sold during 2017. 7. land was sold for its book value. prepare a statement of cash flows for 2017 using the indirect method.