Condensed Financial data of Wanright Company are shown below. Wanwright reports under ASPE. Additional Information: 1. New plant assets costing $141,000 were purchased for cash during the year. 2. Investments were sold at cost. 3. Plant assets costing $36,000 were sold for $15,000, resulting in a gain of $5,000. 4. A cash dividend of $38,000 was declared and paid during the year. WANWRIGHT COMPANY
Balance Sheet
31-Dec
Assets				2017	2016
Cash				$92,700	$33,400
Accounts receivable				70,800	37,000
Inventory				131,900	102,650
Investments				84,500	107,000
Plant assets				310,000	205,000
Accumulated depreciation				(49,500)	(40,000)
Total				$640,400.00	$445,050.00
Liabilities and Shareholders' Equity
Accounts payable				$62,700	$48,280
Salaries payable				15,100	18,830
Notes payable				140,000	70,000
Common shares				250,000	200,000
Retained Earnings				172,600	107,940
Total				640,400	445,050
WANWRIGHT COMPANY
Income Statement
For the Year Ended December 31, 2017
Sales				297,500
Gain on sale of plant assets				5,000.00
				302,500.00
Less:
Cost of goods sold				119,460
Operating expenses				14,670
Depreciation expenses				35,500
Income taxes				27,270
Interest expenses				2,940
Total expenses				199,840
Profit				$102,660
Question a) Prepare a statement of cash flows using the indirect method.