Maynard Shipping Inc. reported the following Income Statement for 2018 and the comparative Balance Sheet for 2018 and 2017, along with additional information for 2018.
Prepare Maynard's statement of cash flows for the year ended December 31, 2018 using the indirect method and follow the proper format
MAYNARD SHIPPING INC.
Comparative Balance Sheets
12/31/2018
	2018	2017
Assets
Current assets
Cash	22,000	42,000
Accounts receivable	90,000	73,000
Merchandise Inventory	143,000	145,000
Long-Term Assets
Plant Assets	507,000	252,000
Accumulated depreciationPlant Assets	(47,000)	(42,000)
Total Assets	715,000	470,000
Liabilities
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	90,000	50,000
Accrued liabilities	5,000	10,000
Long-term liabilities
Notes payable	160,000	80,000
Total liabilities	255,000	140,000
Stockholders' equity
Common stock	370,000	250,000
Retained earnings	110,000	80,000
Treasury Stock	(20,000)	-
Total Stockholders' Equity	460,000	330,000
Total liabilities and stockholders' equity	715,000	470,000
MAYNARD SHIPPING INC.
Income Statement
For the Year Ended December 31, 2018
Net Sales revenue		$286,000
Cost of goods sold		$156,000
Gross Profit		$130,000
Operating expenses:
Salaries and Wages	56,000
Depreciation expense - Plant Assets	20,000
Other operating expense	16,000
Total Operating Expenses		92,000
Operating Income		$38,000
Other Income and Expenses
Interest Revenue	12,000
Dividend Revenue	9,000
Gain on Disposal of Plant Assets	10,000
Interest expense	-15,000
Total Other Income and (Expenses)		16,000
Income before income tax		54,000
Income tax expense		14,000
Net income		40,000
Additional information
Purchased $310,000 in plant assets by paying cash
Sold plant assets with a cost of $55,000 and accumulated depreciation of $15,000 yielding a gain of $10,000
Received $90,000 cash from issuance of notes payable
Paid $10,000 cash to retire notes payable
Received $120,000 cash from issuing shares of common stock
Paid $20,000 cash for purchase of shares in treasury stock