The comparative statements of financial position for Hinckley SA include the following information.

Additional data related to 2019 are as follows.
1. Equipment that had cost ‚¬11,000 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 ordinary shares.
3. Cash dividends paid were ‚¬5,000.
4. On January 1, 2019, the building was completely destroyed by a flood. Insurance proceeds on the building were ‚¬32,000.
5. Equity investments were sold at ‚¬1,700 above their cost.
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 ‚¬6,500 were paid in cash.
Instructions
Prepare a statement of cash flows using the indirect method.

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December 31 2019 2018 € 3,000 € -0- Investments Buildings -0- 29,750 Equipment 45,000 20,000 Patents 5,000 6,250 Inventory 12,000 9,000 Accounts receivable 12,250 10,000 Cash 33,500 13,000 €107,750 €91,000 € 43,000 €33,000 Share capital-ordinary Retained earnings 6,000 20,750 4,500 Allowance for doubtful accounts 3,000 Accumulated depreciation-equipment 4,500 2,000 Accumulated depreciation-buildings -0- 6,000 Accounts payable 5,000 3,000 Dividends payable -0- 5,000 Long-term notes payable 31,000 25,000 3,000 Notes payable, short-term (non-trade) 4,000 €107,750 €91,000