Yes, the speakers are located in the stern and bow as shown in the pics below.
I also put an additional set of speakers in the main cockpit just aft of the driver's and observer's seats.
In the pic below, you can see the added port speaker and the location of the heater tube for the observer's side.
And the location of the vent under the driver's dash located in the removable kick panel. (Black circle below the electrical breakers)
I posted a thread of my 197 stereo upgrade/install here