JKL Corporation provided the following information for the year ended December 31, 2023:

• Net income: $50,000
• Depreciation expense: $10,000
• Increase in accounts receivable: $5,000
• Decrease in accounts payable: $3,000
• Purchase of new equipment: $20,000
• Sale of old equipment: $8,000
• Payment of dividends: $12,000

Prepare the operating activities section of the cash flow statement using the indirect method.