Cash balance at prior year$-$end

Increase in inventory

Depreciation expense

Cash received from issuing stock

Cash paid for dividends

$$40,000$ Gain on sale of machinery

$5,000$ Cash received from sale of machinery

$4,000$ Increase in accounts payable

$8,000$ Net income

$1,000$

$$2,000$

$9,500$

$1,500$

$23,000$

$3,000$

VPI COMPANY

Statement of Cash Flows $($Indirect Method$)$

For Current Year Ended December $31$