Use the Preston Media Corporation data in Short Exercise S14-7 and the results you calculated from the requirements. Prepare Preston Media's statement of cash flows-indirect method-for the year ended December 31, 2018.
In Short Exercise S14-7

PRESTON MEDIA CORPORATION Income Statement Year Ended December 31, 2018 $ 80,000 Sales Revenue Depreciation Expense-Plant Assets 11,000 Other Expenses 50,000 $ 19,000 Net Income PRESTON MEDIA CORPORATION Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: $ 5,000 $ 3,900 Cash Accounts Receivable 5,100 9,600 Long-term Assets: Plants Assets 105,350 84,350 Accumulated Depreciation-Plant Assets (29,350) $ 90,600 (18,350) $ 75,000 Total Assets Liabilities Current Liabilities: $ 8,000 $ 4,500 Accounts Payable Long-term Liabilities: Notes Payable 9,000 12,000 Total Liabilities 17,000 16,500 Stockholders' Equity Common Stock, no par 27,000 23,000 Retained Earnings 46,600 35,500 Total Stockholders' Equity 73,600 58,500 Total Liabilities and Stockholders' Equity $ 75,000 $ 90,600