Condensed financial data of Saffordville Company are shown below.

SAFFORDVILLE COMPANY Comparative Balance Sheets December 31
Assets	2017		2016
Cash	$102,700		$ 33,400
Accounts receivable	60,800		37,000
Inventory	126,900		102,650
Investments	79,500		107,000
Equipment	315,000		205,000
Accumulated depreciationequipment	(44,500)		(40,000)
Total	$640,400		$445,050
Liabilities and Stockholders Equity
Accounts payable	$ 57,700		$ 48,280
Accrued expenses payable	15,100		18,830
Bonds payable	145,000		70,000
Common stock	250,000		200,000
Retained earnings	172,600		107,940
Total	$640,400		$445,050

SAFFORDVILLE COMPANY Income Statement For the Year Ended December 31, 2017
Sales revenue			$297,500
Gain on disposal of plant assets			5,000
			302,500
Less:
Cost of goods sold	$99,460
Operating expenses, excluding
depreciation	19,670
Depreciation expense	30,500
Income tax expense	37,270
Interest expense	2,940		189,840
Net income			$112,660

Additional information:

1. New equipment costing $146,000 was purchased for cash during the year.

2. Investments were sold at cost.

3. Equipment costing $36,000 was sold for $15,000, resulting in a gain of $5,000.

4. A cash dividend of $48,000 was declared and paid during the year.

Cash from operations $95,800

Instructions

Prepare a statement of cash flows using the indirect method. (Each ratio must include the formula,the numbers entered in the formula and the answer.Answers only will not be accepted Example: Current Ratio=Current Assets/Current Liabilities=500/100=5)