The following three accounts appear in the general ledger of Beiber Corp. during 2017. LO11 Equipment Date Debit Credit Balance Jan. 1 Balance 160,000 July 31 Purchase of equipment 70,000 230,000 Sept. 2 Cost of equipment constructed 53,000 283,000 Nov. 10 Cost of equipment sold 49,000 234,000 Accumulated Depreciation—Equipment Date Debit Credit Balance Jan. 1 Balance 71,000 Nov. 10 Accumulated depreciation on equipment sold 16,000 55,000 Dec. 31 Depreciation for year 28,000 83,000 Retained Earnings Date Debit Credit Balance Jan. 1 Balance 105,000 Aug. 23 Dividends (cash) 14,000 91,000 Dec. 31 Net income 72,000 163,000 Instructions From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was $8,000. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $53,000.)