prepare a statement of cash flow using the indirect method, and prepare t accounts if needed

1. Profit was $115,000. 2. Sales were $978,000. 3. Cost of goods sold was $751,000. 4. Operating expenses were $43,000, exclusive of depreciation expense. 5. Depreciation expense was $34,000. 6. Interest expense was $14,000. 7. Income tax expense was $26,000. 8. Land was sold at a gain of $5,000. 9. No equipment was sold during the year. 10. $50,000 of the bank loan was repaid during the year. 11. Common shares were issued during the year