Incomplete Data and Cash Flows. Only these incomplete data from the McFall Company are available for 1999:

Dividends of \(\$ 148,000\) were declared and paid during the year. Depreciation of \(\$ 32,000\) was deducted on the income statement. Equipment having a net book value of \(\$ 88,000\) was sold at a loss of \(\$ 30,000\).
\section*{Required:}
Prepare a statement of cash flows. Comment on the major cash flows.

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12/31/1999 12/31/1998 Plant and equipment (net). $286,000 $290,000 Long-term debt. 160,000 0 Capital stock 300,000 200,000 Retained earnings 705,000 517,000