A comparative balance sheet for Hartman Corporation is presented below:

HARTMAN CORPORATION

Comparative Balance Sheet

2017 2016

Assets

Cash $36,000 $31,000

Accounts Receivable (net) 70,000 60,000

Prepaid Insurance 25,000 17,000

Land 18,000 40,000

Eqipment 70,000 60,000

Accumulated Depreciation (20,000) (13,000)

Total Assets $209,000 $195,000

Liabilities and Stockholders' Equity

Accounts Payable $11,000 $6,000

Bonds Payable 27,000 19,000

Common Stock 140,000 115,000

Retained Earning 21,000 55,000

Total Liabilities & Stockholders' Equity $ 199,000 $ 195,000

Additional information: 1. Net loss for 2017 is $20,000. 2. Cash dividends of $14,000 were declared and paid in 2017. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.

Instructions: Prepare a statement of cash flows for the year ended 2017, using the indirect method.

Please explain how you got each number, thanks!