Prepare a Statement of Cash flows using the indirect method

The comparative balance sheets for Sage Corporation show the following information. Allowance for doubtful accounts $3,100$4,500 Accumulated depreciation-equipment 2,0004,500 Accumulated depreciation-building 06,000 Accountspayable5,1003,000 Dividends payable 05,000 Notes payable, short-term (nontrade) 3,0004,100 Long-term notes payable 31,00025,000 Common stock \begin{tabular}{rrr} 43,000 & & 33,000 \\ 20,900 & & 6,100 \\ \cline { 1 - 2 } & & $91,200 \\ \hline \hline \end{tabular} Additional data related to 2025 are as follows. 1. Equipment that had cost $11,100 and was 40% depreciated at time of disposal was sold for $2,500. 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $5,000. 4. On January 1,2025 , the building was completely destroyed by a flood. Insurance proceeds on the building were $29,700 (net of $2,100 taxes). 5. Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $2,000 and income taxes of $6,600 were paid in cash