A comparative balance sheet and income statement for Eaton Company follow:

During 2008, the company sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $7 when purchased several years ago. Cash dividends totaling $16 were paid during 2008.
Required:
1. Using the indirect method, determine the net cash provided by operating activities for 2008.
2. Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for2008.

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Eaton Company Comparative Balance Sheet December 31, 2008, and 2007 Accumulated depreciation . . . . Liabilities and Stockholders Equity Accounts payable $300 $225 Deferred income taxes . 132 Total liabilities and stockholders' equity ..S928 $830 Eaton Company Income Statement For the Year Ended December 31, 2008 Cost of goods sold Selling and administrative expenses Gain on sale of investments ..$5 Loss on sale of equipment ...-... . Income before taxes+..