Evaluate this using Excel LO$12-2,{}^{TT}12-4,$ ubrace$(12-6$ubrace$)$

$($ Chapter Supplement B$)$ Preparing a Statement of Cash Flows with Gain on Sale of Equipment $($Indirect Method$)($ AP$12-5)$

Additional Data:

a$.$ Bought equipment for cash, $$31,000.$ Sold equipment with original cost of $$10,000,$ accumulated depreciation of $$7,000,$ for $$4,000$ cash.

b$.$ Paid $$6,000$ on the long$-$term note payable.

c$.$ Issued new shares of stock for $$16,000$ cash.

d$.$ No dividends were declared or paid.

e$.$ Other expenses included depreciation, $$12,000$; wages, $$13,000$; taxes, $$6,000$; and other, $$7,800.$

f$.$ Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash.

Required:

Prepare the statement of cash flows for the year ended December $31,$ current year, using the indirect method.

Evaluate the statement of cash flows.