Please assist to answer the following questions

# | Based on the following data for m lNC. for 2018 and the preceding year ended December 31, 2018, prepare a statement of cash ows. Assume that equipment costing $125,000 was purchased for cash and equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000; that the stock was issued for cash; and that the only entries in the retained earnings account were net income of $51,000 and cash dividends paid of $12,000. Year Year 2018 2017 $ 8 Cash 100,000 78,000 Accounts receivable (net) 78,000 85,000 Inventories 101 ,500 90,000 Equipment 410,000 370,000 Accumuiated depreciation 1150,0001 1158,0001 539,500 465,000 Accounts payable (merchandise creditors) 58,500 55,000 Cash dividends payable 5,000 4,000 Common stock, $10 par 200,000 170,000 Paid-in capital in excess of parcommon stock 62,000 60,000 Retained earnings 214,000 176,000 539 500 465 000 _l_l