Gallery Furniture Income Statement For the Year Ended December 31, 1998 1. Cash dividends of $1,000 were declared and paid. 2. Equipment costing $4,000 was purchased with cash. 3. Equipment with a book value of $500 (cost of $1,500 less accumulated depreciation of (1,000) was sold for $500. 4. Depreciation of $1,600 is included in operating expenses. Required: Prepare Gallery Furniture; 1998 statement of cash flows, using the indirect method to present cash flows from operating activities