Prepare statement of cash flows using the indirect method for Libby Inc. for the year 2016.
Libby Inc.
Income statement
For the year ended on December 31, 2016
Sales		$100,000
Cost of Goods Sold	$61,000
Depreciation	5,000
Loss on Sale of land	1,000
Supplies Expense	8,000
Salaries Expense	10,000
Income Tax Expense	3,000
Total Expense		$88,000
Net income		$12,000
Libby Inc.
Balance Sheet
December 31
	2016	2015
Asset
Cash	$44,000	$18,000
Accounts Receivable	27,000	29,000
Inventory	30,000	36,000
Land	50,000	65,000
Equipment	60,000	37,000
Less Accumulated Depreciation	(35,000)	(30,000)
Total Assets	$176,000	$155,000
Accounts Payable	$25,000	$22,000
Salaries Payable	800	1,000
Notes Payable, Long Term	38,000	48,000
Common Stock	80,000	60,000
Retained Earnings	32,200	24,000
Total Liab. and Stockholder Eq.	$176,000	$155,000
Additional Information
1. Bought equipment for cash, $23,000.
2. Sold Land costing $15,000 only for $14,000 with loss on sale of land $1,000
3. Paid $10,000 on long term note payable.
4. Issue new shares of common stock for $20,000.
5. Declared and paid a $3,800 dividend in cash.

What is cash flows from:
Operating activities
Investing activities
Financing activities
Non-cash activities