Prepare a statement of cash flow for 2017 using the indirect method

additional info:

during the year, equipment was sold for $12,000 cash. The equipment cost $15,000 originally and had accumulated depreciation of $30,000 at the time of sale.

additional equipmebt was purchase for $7,000 cash

1 2 3 Sampson Company Comparative Balance Sheet 31-Dec 4 2017 2016 LA 18,000 $ 25,000 45,000 70,000 (27.000) 131.000 $ 33,000 14,000 25,000 78,000 (24.000) 126.000 $ $ 5 Assets 6 Cash 7 Accounts receivable 8 Inventories 9 Plant assets 10 Accumulated depreciation 11 Total 12 13 Liabilities and Stockholders' Equity 14 Accounts payable 15 Accrued expenses payable 16 Bonds payable 17 Common stock 18 Retained earnings 19 Total 20 21 Sampson Company 22 Income Statement 23 For the Year Ended December 31 24 25 Sales 26 Less 27 Cost of goods sold 28 Operating expenses (excluding depreciation) 29 Depreciation expense 31,000 $ 24,000 20,000 25,000 31.000 131.000 $ 43,000 20,000 10,000 25,000 28.000 126.000 $ $ 2017 286.000 2016 $199.000 S 204.000 31,000 6 104.000 22.000 Gonn 13 Liabilities and Stockholders Equity 14 Accounts payable 5 31,000 5 43,000 15 Accrued expenses puyable 24,000 20,000 16 Bonds payable 20,000 10,000 17 Common stock 25,000 25,000 18 Retained earnings 31.000 28.000 19 Total $ 131.000 S 125,000 20 21 Sampson Company 22 Income Statement 23 For the Year Ended December 31 24 2017 2016 25 Sales $ 286,000 $199,000 26 Less 27 Cost of goods sold $ 204,000 104,000 28 Operating expenses (excluding depreciation) 31,000 22,000 29 Depreciation expense 6,000 5,000 30 Income taxes 10,000 5,000 31 Interest expense 7,000 8,000 32 Total Expenses 250.000 144.000 33 Net income 5 28.000 55.000 34 35 Additional information 36 During the year, equipment was sd for $12,000 cash. This equipment cost $15,000 originally and had accumulated depreciation of 53,000 at the time of sale 37 Additional equipment was purchased for $7.000 cash 38 39 Instructions: Prepare a statement of cash flows for 2017 using the Indirect method