Samuel Corp has provided the following information for the year ended December 31, 2017

Samuel Corp
Comparative Balance Sheet
December 31, 2017 and 2016
Increase
2017 2016 (Decrease)

Cash $33,000 $13,000 $20,000
Accounts Receivable 29,000 36,000 (7,000 )
Merchandise Inventory 56,000 29,000 27,000
Plant Assets, net 126,000 92,000 34,000
Total Assets $244,000 $170,000 $74,000

Accounts Payable $9,000 $13,000 $(4,000 )
Accrued Liabilities 7,000 3,000 4,000
Long-term Notes Payable 70,000 79,000 (9,000 )
Total Liabilities 86,000 95,000 (9,000 )

Common Stock 55,000 3,000 52,000
Retained Earnings 115,000 78,000 37,000
Treasury Stock (12,000 ) (6,000 ) (6,000 )
Total Stockholders' Equity 158,000 75,000 83,000
Total Liabilities and Stockholders' Equity $244,000 $170,000 $74,000

Samuel Corp
Income Statement
Year ended December 31, 2017
Sales Revenue $291,300
Interest Revenue 1,000
Gain on Sale of Plant Assets 6,000
Total Revenues and Gains $298,300
Cost of Goods Sold 145,000
Salaries and Wages Expense 49,000
Depreciation Expense-Plant Assets 16,000
Other Operating Expense 25,000
Interest Expense 3,500
Income Tax Expense 7,800
Total Expenses 246,300
Net Income $52,000

Additional information provided by the company includes the following:
Equipment costing $60,000 was purchased for cash.
Equipment with a net book value of $10,000 was sold for $16,000.
Depreciation expense of $16,000 was recorded during the year.
During 2017, the company repaid $43,000 of long-term notes payable.
During 2017, the company borrowed $34,000 on a new long-term note payable.
There were no stock retirements during the year.
There were no sales of treasury stock during the year.
All sales are on credit.

Prepare the 2017 statement of cash flows, using the indirect method.
What will be an ideal response

Samuel Corp.
Statement of Cash Flows
Year Ended December 31, 2017

Cash Flows from Operating Activities:
Net Income $52,000
Adjustments to Net Income:
Depreciation Expense 16,000
Gain on Sale of Plant Assets (6,000 )

Decrease Accounts Receivable 7,000
Increase Merchandise Inventory (27,000 )
Decrease Accounts Payable (4,000 )
Increase Accrued Liabilities 4,000
(10,000 )
Net Cash Provided by Operating Activities 42,000

Cash Flows from Investing Activities
Proceeds from Sale of Equipment 16,000
Purchase of Equipment (60,000 )
Net Cash Used for Investing Activities (44,000 )

Cash Flows from Financing Activities
Repaid Long-term Notes Payable (43,000 )
Long-Term Notes Payable issued 34,000
Common Stock issued 52,000
Treasury Stock purchased (6,000 )
Dividends Paid (15,000 )
Net Cash Provided by Financing Activities 22,000
Net Increase (Decrease) in Cash 20,000
Cash Balance, December 31, 2016 13,000
Cash Balance, December 31, 2017 $33,000