Additional information:

1.		Dividends in the amount of $5,900 were declared and paid during 2017.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $19,800 and was 70% depreciated was sold during 2017.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Oriole Inc., a greeting card company, had the following statements prepared as of December 31, 2017. ORIOLE INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 12/31/17 12/31/16 Cash $6,000 $7,100 Accounts receivable 62,000 50,700 Short-term debt investments (available-for-sale) 35,300 17,900 Inventory 40,400 59,600 Prepaid rent 5,100 3,900 Equipment 153,300 131,200 Accumulated depreciation-equipment (35,300 ) (25,100 ) Copyrights 46,000 50,000 Total assets $312,800 $295,300 Accounts payable $46,200 $39,700 Income taxes payable 3,900 6,100 Salaries and wages payable 7,900 4,000 Short-term loans payable 8,000 10,100 Long-term loans payable 59,900 68,300 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 56,900 37,100 Total liabilities & stockholders" equity $312,800 $295,300 ORIOLE INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017 Sales revenue $334,625 Cost of goods sold 174,300 Gross profit 160,325 Operating expenses 118,900 Operating income 41,425 Interest expense $11,300 Gain on sale of equipment 2,000 9,300 Income before tax 32,125 Income tax expense 6,425 Net income $25,700