Newman Corporation's comparative statements of financial position are presented below.

NEWMAN CORPORATION

Comparative Statement of Financial Position

December 31

2017 2016

Cash $12,200 $17,700

Accounts receivable 25,200 22,300

Equipment 60,000 70,000

Accumulated depreciation (14,000) (10,000)

Investments 25,000 16,000

Total $108,400 $116,000

Accounts payable $14,600 $11,100

Bonds payable 10,000 30,000

Share capital-ordinary 50,000 45,000

Retained earnings 33,800 29,900

Total $108,400 $116,000

Additional information:

1. Net income was $19,300. Dividends declared and paid were $15,400.

2. Equipment which cost $10,000 and had accumulated depreciation of $2,200 was sold for

$3,800.

3. All other changes in non-current account balances had a direct effect on cash flows,

except the change in accumulated depreciation.

Instruction

Prepare a statement of cash flows for 2017 using the indirect method.