Brazos Medical, Inc., ended 2016 with cash of $24,000. During 2017, Brazos earned net income of $120,000 and had adjustments to reconcile net income to net cash provided by operations totaling $20,000 (this is a negative amount).

Brazos paid $300,000 for equipment during 2017 and had to borrow half of this amount on a long-term note. During the year, the company paid dividends of $15,000 and sold old equipment, receiving cash of $60,000.

Prepare Brazos's statement of cash flows with its appropriate heading for the year ended December 31, 2017. Follow the format in the summary problem on page 31?