Indigo Inc., a greeting card company, had the following statements prepared as of December 31, 2017.

INDIGO INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016
12/31/17	12/31/16
Cash	$5,900	$7,100
Accounts receivable	62,000	51,000
Short-term debt investments (available-for-sale)	35,000	18,100
Inventory	40,400	59,900
Prepaid rent	5,000	4,000
Equipment	153,300	129,100
Accumulated depreciationequipment	(35,000	)	(24,800	)
Copyrights	46,300		50,300
Total assets	$312,900		$294,700
Accounts payable	$46,500	$40,200
Income taxes payable	4,100	6,100
Salaries and wages payable	8,100	4,100
Short-term loans payable	8,000	10,100
Long-term loans payable	60,600	69,600
Common stock, $10 par	100,000	100,000
Contributed capital, common stock	30,000	30,000
Retained earnings	55,600		34,600
Total liabilities & stockholders equity	$312,900		$294,700

INDIGO INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017
Sales revenue	$338,150
Cost of goods sold	175,700
Gross profit	162,450
Operating expenses	119,400
Operating income	43,050
Interest expense	$11,300
Gain on sale of equipment	2,000	9,300
Income before tax	33,750
Income tax expense	6,750
Net income	$27,000

Additional information:

1.	Dividends in the amount of $6,000were declared and paid during 2017.
2.	Depreciation expense and amortization expense are included in operating expenses.
3.	No unrealized gains or losses have occurred on the investments during the year.
4.	Equipment that had a cost of $19,800and was 70% depreciated was sold during 2017.

Prepare a statement of cash flows using the direct method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

INDIGOINC. Statement of Cash Flows December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Dividend PaymentsSale of EquipmentPrincipal Payment on Short-term LoanCash Payments to SuppliersCash Payments for Operating ExpensesPrincipal Payment on Long-term LoanCash Received from CustomersCash Payments for InterestPurchase of EquipmentCash Payments for Income TaxesPurchase of Investments	$
Purchase of EquipmentCash Payments for InterestCash Received from CustomersPrincipal Payment on Long-term LoanCash Payments for Income TaxesDividend PaymentsBorrowing on Short-Term LoanBorrowing on Long-Term LoanSale of Available-for-Sale InvestmentsCash Payments to SuppliersCash Payments for Operating ExpensesSale of EquipmentPurchase of InvestmentsPrincipal Payment on Short-term Loan	$
Purchase of EquipmentPurchase of InvestmentsPrincipal Payment on Short-term LoanSale of EquipmentCash Payments for InterestSale of Available-for-Sale InvestmentsCash Payments to SuppliersCash Payments for Income TaxesBorrowing on Short-Term LoanCash Payments for Operating ExpensesPrincipal Payment on Long-term LoanDividend PaymentsBorrowing on Long-Term LoanCash Received from Customers
Principal Payment on Long-term LoanDividend PaymentsBorrowing on Long-Term LoanSale of Available-for-Sale InvestmentsPurchase of InvestmentsPurchase of EquipmentCash Received from CustomersPrincipal Payment on Short-term LoanCash Payments for Income TaxesCash Payments for InterestSale of EquipmentCash Payments for Operating ExpensesCash Payments to SuppliersBorrowing on Short-Term Loan
Borrowing on Short-Term LoanCash Payments for InterestPurchase of EquipmentPrincipal Payment on Long-term LoanCash Payments for Operating ExpensesPrincipal Payment on Short-term LoanCash Payments to SuppliersBorrowing on Long-Term LoanCash Payments for Income TaxesSale of Available-for-Sale InvestmentsSale of EquipmentDividend PaymentsCash Received from CustomersPurchase of Investments
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash Received from CustomersDividend PaymentsPurchase of InvestmentsPrincipal Payment on Short-term LoanSale of Available-for-Sale InvestmentsPrincipal Payment on Long-term LoanBorrowing on Short-Term LoanCash Payments to SuppliersCash Payments for Operating ExpensesBorrowing on Long-Term LoanCash Payments for InterestCash Payments for Income TaxesSale of EquipmentPurchase of Equipment
Principal Payment on Long-term LoanCash Payments for InterestPrincipal Payment on Short-term LoanBorrowing on Short-Term LoanCash Payments for Operating ExpensesSale of Available-for-Sale InvestmentsDividend PaymentsBorrowing on Long-Term LoanCash Payments for Income TaxesCash Received from CustomersCash Payments to SuppliersSale of EquipmentPurchase of EquipmentPurchase of Investments
Purchase of InvestmentsDividend PaymentsPurchase of EquipmentCash Received from CustomersSale of Available-for-Sale InvestmentsSale of EquipmentCash Payments to SuppliersPrincipal Payment on Long-term LoanBorrowing on Short-Term LoanCash Payments for Operating ExpensesBorrowing on Long-Term LoanCash Payments for Income TaxesPrincipal Payment on Short-term LoanCash Payments for Interest
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash Payments to SuppliersCash Payments for Operating ExpensesCash Received from CustomersCash Payments for InterestCash Payments for Income TaxesSale of EquipmentSale of Available-for-Sale InvestmentsDividend PaymentsPurchase of EquipmentPurchase of InvestmentsBorrowing on Short-Term LoanPrincipal Payment on Short-term LoanPrincipal Payment on Long-term LoanBorrowing on Long-Term Loan
Principal Payment on Short-term LoanCash Payments for Income TaxesCash Received from CustomersPrincipal Payment on Long-term LoanCash Payments for InterestSale of EquipmentDividend PaymentsBorrowing on Short-Term LoanCash Payments to SuppliersCash Payments for Operating ExpensesBorrowing on Long-Term LoanSale of Available-for-Sale InvestmentsPurchase of EquipmentPurchase of Investments
Sale of EquipmentCash Payments for Operating ExpensesPrincipal Payment on Short-term LoanCash Received from CustomersCash Payments for InterestPrincipal Payment on Long-term LoanPurchase of EquipmentBorrowing on Long-Term LoanDividend PaymentsPurchase of InvestmentsSale of Available-for-Sale InvestmentsBorrowing on Short-Term LoanCash Payments for Income TaxesCash Payments to Suppliers
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$