Selected financial statement information and additional data is presented below. Prepare in Excel a statement of cash flows for the year ending December 2012, using indirect method.

Additional information: During the year they sold equipment with an original cost of $153,000 and accumulated depreciation of $119,000 and purchased new equipment for $272,000.

Show detailed work in Excel.

-I MILLI Balance Sheet and Income Statement Data December 31, December 31, 2018 2017 Current Assets: Cash $153,000 $119,000 Accounts Receivable 238,000 306,000 Inventory 391,000 340,000 Total Current Assets 782,000 765,000 Property, Plant, and Equipment 1,241,000 1, 122,000 Less: Accumulated Depreciation (476,000) (442,000) Total Assets $1,547,000 $1,445,000 Current Liabilities: Accounts Payable $187,000 $102,000 Notes Payable 51,000 68,000 Income Tax Payable 85,000 76,500 Total Current Liabilities 323,000 246,500 Bonds Payable 340,000 391,000 Total Liabilities 663,000 637,500 Stockholders' Equity: Common Stock 510,000 467,500 Retained Earnings 374,000 340,000 Total Stockholders' Equity 884,000 807,500 Total Liabilities & Stockholders' Equity $1,547,000 $1,445,000 Sales 1,615,000 $1,513,000 Less Cost of Goods Sold 731,000 731,000 Gross Profit 884,000 782,000 Expenses: Depreciation Expense 153,000 136,000 Salary Expense 391,000 357,000 Interest Expense 34,000 34,000 Loss on Sale of Equipment 17,000 Income Before Taxes 0 289,000 255,000 Less Income Tax Expense 1 19,000 102,000 Net Income $170,000 $153,000