Alex Company reported the following information for 2017. LO11 ALEX COMPANY Comparative Balance Sheets December 31 Change Assets 2017 2016 Increase/Decrease Cash $ 59,000 $ 36,000 $ 23,000 Increase Accounts receivable 62,000 22,000 40,000 Increase Inventory 44,000 –0– 44,000 Increase Prepaid expenses 6,000 4,000 2,000 Increase Land 55,000 70,000 15,000 Decrease Buildings 200,000 200,000 –0–
Accumulated depreciation—buildings (21,000) (14,000) 7,000 Increase Equipment 183,000 68,000 115,000 Increase Accumulated depreciation—equipment (28,000) (10,000) 18,000 Increase Totals $560,000 $376,000 Liabilities and Stockholders’ Equity Accounts payable $ 43,000 $ 40,000 $ 3,000 Increase Accrued expenses payable –0– 10,000 10,000 Decrease Bonds payable 100,000 150,000 50,000 Decrease Common stock ($1 par) 230,000 60,000 170,000 Increase Retained earnings 187,000 116,000 71,000 Increase Totals $560,000 $376,000 ALEX COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue $941,000 Cost of goods sold $475,000 Operating expenses 231,000 Interest expense 12,000 Loss on disposal of equipment 2,000 720,000 Income before income taxes 221,000 Income tax expense 65,000 Net income $156,000 Additional information:
1. Operating expenses include depreciation expense of $40,000.
2. Land was sold at its book value for cash.
3. Cash dividends of $85,000 were declared and paid in 2017.
4. Equipment with a cost of $166,000 was purchased for cash. Equipment with a cost of $51,000 and a book value of $36,000 was sold for $34,000 cash.
5. Bonds of $50,000 were redeemed at their face value for cash.
6. Common stock ($1 par) of $170,000 was issued for cash.

Use this information to prepare a statement of cash fl ows using the indirect method.