Below are balance sheet and income statement data for Judy Maxwell Company.

Additional information for Judy Maxwell Company is as follows:
(a) Property, plant, and equipment with an original historical cost of $1,200 was sold during 2008.
(b) All accounts payable relate to inventory purchases.
(c) The €œOther long-term liabilities€ item is Judy Maxwell€™s pension liability. Pension expense is reported as part of selling and administrative expenses.
(d) During 2008, Judy Maxwell issued shares of common stock to an investor in exchange for property, plant, and equipment valued at $350.
(e) The accumulated other comprehensive income relates solely to the available-for-sale investment securities.
Instructions:
Prepare a complete statement of cash flows for 2008 for Judy Maxwell Company. Use the direct method for reporting cash flows from operatingactivities.

Balance Sheet 5 3,500 Retained earnings (deficit) 1,400 1,090 equipment 7,000 5,900 0 Accumulated other comprehensive income Income Statement (for 2008) $14,800 Loss on sale of property. plant, and equipment Selling and administrative expenses.. expenses and losses 2.062