Andrews Inc., a greeting card company, had the following statements prepared as of December 31, 2015.

Additional information:
1. Dividends in the amount of €6,000 were declared and paid during 2015.
2. Depreciation expense and amortization expense are included in operating expenses.
3. No unrealized gains or losses have occurred on the investments during the year.
4. Equipment that had a cost of €30,000 and was 70% depreciated was sold during 2015.
Instructions Prepare a statement of cash flows using the direct method.

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ANDREWS INC. COMPARATIVE STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2015 AND 2014 12/31/15 12/31/14 Equipment 154,000 130,000 Accumulated depr.-equipment (35,000) (25,000) Copyrights 46,000 50,000 Inventory 40,000 60,000 Prepaid rent 5,000 4,000 Accounts receivable 62,000 49,000 Short-term investments (trading) 35,000 18,000 Cash 6,000 9,000 Total assets 313,000 295,000 Share capital-ordinary, 10 par 100,000 100,000 Share premium-ordinary 30,000 30,000 Retained earnings 57,000 36,000 Long-term loans payable 60,000 67,000 Accounts payable 46,000 42,000 Income taxes payable 4,000 6,000 Salaries and wages payable 8,000 4,000 Short-term loans payable 8,000 10,000 Total equity and liabilities 313,000 295,000