Condensed financial data of Cheng Inc. follow.

CHENG INC. Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$80,800			$48,400
Accounts receivable		92,800			33,000
Inventory		117,500			102,850
Prepaid expenses		28,400			26,000
Investments		143,000			114,000
Equipment		270,000			242,500
Accumulated depreciation-equipment		(50,000	)		(52,000	)
Total		$682,500			$514,750
Liabilities and Stockholders Equity
Accounts payable		$112,000			$67,300
Accrued expenses payable		16,500			17,000
Bonds payable		110,000			150,000
Common stock		220,000			175,000
Retained earnings		224,000			105,450
Total		$682,500			$514,750

CHENG INC. Income Statement For the Year Ended December 31, 2017
Sales revenue				$392,780
Less:
Cost of goods sold		$135,460
Operating expenses, excluding depreciation		12,410
Depreciation expense		46,500
Income tax expense		27,280
Interest expense		4,730
Loss on disposal of plant assets		7,500		233,880
Net income				$158,900

Additional information:

1.		New equipment costing $85,000 were purchased for cash during the year.
2.		Old equipment having an original cost of $57,500 was sold for $1,500 cash.
3.		Bonds matured and were paid off at face value for cash.
4.		A cash dividend of $40,350 was declared and paid during the year.

Prepare a statement of cash flows using the indirect method