Additional data for $2012$ include the following:

$$ Sold equipment with a book value of $$8,000(=$ $$30,000$ cost $$ $$22,000$ accumulated depreciation$)$ for $$12,000$ cash

$$ Purchased equipment for $$27,000$ cash

$$ Sold long$-$term investments with an original cost of $$11,000$ for $$3,000$ cash

$$ Purchased long$-$term investments for $$25,000$ cash

$$ Signed a note with the bank for $$5,000$ cash. No principal amounts were paid during the year

$$ Repurchased common stock $($treasury stock$)$ for $$16,000$ cash. No new common stock was issued

$$ Declared and paid $$13,000$ in cash dividends

$1.$ PreBalance Sheet

December $31,2012$ and

December $31,2011$

Phantom Books

Income Statement

for the Year Ended December $31,2012$

Sales

Cost of goods sold

Gross margin

Selling and administrative expenses

Depreciation expense

Operating income

Interest expense

Gain on sale of equipment

Loss on sale of long$-$term investments

Income before taxes

Income tax expense

Net incomepare the operating activities section of the statement of cash flows for Phantom Books using the indirect methodBalance Sheet

December $31,2012$ and

December $31,2011$

Phantom Books

Income Statement

for the Year Ended December $31,2012$

Sales

Cost of goods sold

Gross margin

Selling and administrative expenses

Depreciation expense

Operating income

Interest expense

Gain on sale of equipment

Loss on sale of long$-$term investments

Income before taxes

Income tax expense

Net income

$2.$ How much cash did Phantom Books generate from operating activities for the year?