Comparative statement of financial position accounts of Crane Inc., which follows IFRS, follow:

CRANE INC. Comparative Statement of Financial Position Accounts December 31, 2017, and 2016
		December 31
Debit accounts		2017			2016
Cash		$45,095			$33,950
Accounts receivable		67,340			59,800
Merchandise inventory		30,100			24,150
Long-term investments (FV-NI)		23,350			40,500
Machinery		30,180			18,850
Buildings		67,970			56,750
Land		7,500			7,500
		$271,535			$241,500
Credit accounts
Allowance for doubtful accounts		$1,120			$370
Accumulated depreciationmachinery		5,605			2,230
Accumulated depreciationbuildings		13,940			9,450
Accounts payable		30,360			25,100
Accrued liabilities		2,445			1,190
Income taxes payable		920			1,420
Long-term note payablenon-trade		27,000			32,000
Common shares		150,000			125,000
Retained earnings		40,145			44,740
		$271,535			$241,500

Additional information: Crane Inc. has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities.

1.		Cash dividends declared during the year were $17,995.
2.		A 20% stock dividend was declared during the year and $25,000 of retained earnings was capitalized.
3.		FV-NI investments that cost $19,900 and had a fair value at December 31, 2016, of $24,750 were sold during the year for $23,080.
4.		Machinery that cost $3,780 and had $750 of depreciation accumulated was sold for $2,200.

Cranes 2017 statement of income is as follows:

Sales revenue						$639,000
Less: Cost of goods sold						378,000
Gross margin						261,000
Less: Operating expenses (includes $8,615 depreciation, and $5,400 bad debts)						180,100
Income from operations						80,900
Loss on sale of FV-NI investments			$(1,670	)
Interest expense			(3,000	)
Loss on sale of machinery			(830	)		(5,500	)
Income before taxes						75,400
Income tax expense						(37,000)
Net income						$38,400

Prepare a statement of cash flows using the indirect method.