2.) Scheeler Company has the following comparative balance sheet data available:

	12/31/2018	12/31/2017
Cash	$30,000	$80,000
Accounts Receivable, net	160,000	100,000
Inventory	100,000	70,000
Prepaid Rent	20,000	10,000
Total Current Assets	$310,000	$260,000
Equipment	$400,000	$200,000
Accumulated Depreciation	(60,000)	(50,000)
Total Assets	$650,000	$410,000
Accounts Payable	$50,000	$40,000
Salaries Payable	40,000	40,000
Bonds Payable	0	50,000
Common Stock, $10 par	300,000	100,000
Additional Paid-in Capital	50,000	0
Retained Earnings	210,000	180,000
Total Liabilities & Stockholders' Equity	$650,000	$410,000

Additional information:

1. The company reports net income of $100,000 and depreciation expense of $20,000 for the year ending December 31, 2018.

2. Dividends declared and paid in 2018, $70,000.

3. Equipment with a cost of $20,000 and accumulated depreciation of $10,000 was sold for $3,000.

4. New equipment was purchased for cash.

5. No common stock was retired during 2018.

Using the indirect method, prepare the statement of cash flows for the year ending December 31, 2018