12. Statement of cash flows (indirect method). inoration is taken from French Corporation's financiat statements: December 31 Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid expenses Land Buildings Accumulated depreciation Patents $63,000 102,000 (4,500) 160,000 7,500 100,000 294,000 (32,000) 20,000 $710,000 S 27,000 80,000 (3,100) 175,000 6,800 60,000 244,000 (13,000) $611700 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings-appropriated Retained earnings-unappropriated Treasury stock, at cost $ 90,000 54,000 125,000 100,000 80,000 276,000 $ 84,000 63,000 60,000 100,000 10,000 302,700 (8,000) $611,700 (15.000 $710,000 Net income Depreciation expense Amortization of patents Cash dividends declared and paid Gain or loss on sale of patents For 2018 Year $78,300 19,000 5,000 35,000 none Instructions Prepare a statement of cash flows for French Corporation for the year 2018. (Use the indirect method.)