Exercise 23-18

The accounts below appear in the ledger of Teal Company.

		Retained Earnings		Dr.		Cr.		Bal.
Jan. 1, 2017		Credit Balance						$42,100
Aug. 15		Dividends (cash)		$15,100				27,000
Dec. 31		Net Income for 2017				$40,300		67,300
		Equipment		Dr.		Cr.		Bal.
Jan. 1, 2017		Debit Balance						$139,300
Aug. 3		Purchase of Equipment		$62,300				201,600
Sept. 10		Cost of Equipment Constructed		48,500				250,100
Nov. 15		Equipment Sold				$55,500		194,600
		Accumulated DepreciationEquipment		Dr.		Cr.		Bal.
Jan. 1, 2017		Credit Balance						$84,800
Apr. 8		Major Repairs		$21,100				63,700
Nov. 15		Accum. Depreciation on Equipment Sold		25,300				38,400
Dec. 31		Depreciation for 2017				$16,600		55,000

From the postings in the accounts above, indicate how the information is reported on a statement of cash flows by preparing a partial statement of cash flows using the indirect method. The loss on sale of equipment (November 15) was $5,900. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)