On the basis of the following data for Teller Co. for 2018 and the preceding year ended December 31,2018, prepare a statement of cash flows.Use the indirect method of reporting cash flows from operating activities. Assume that equipment costing $125,000 was purchased for cash and equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000; that the stock was issued forcash; and that the only entries in the retained earnings account were net income of $51,000 and cash dividends paid of $12,000. Cash AR (net) Inventories Equipment Accumulated Depreciation Total Asset Year Year 2018 2017 $100,000 $78,000 78,000 85,000 101,500 90,000 410,000 370,000 (150,000) (158,000) $539,500 $465,000 $58,500 $55,000 5,000 4,000 200,000 170,000 AP Cash dividend payable Common stock, $10 par Paid in capital in excess of par common stock Retained Earnings 62,000 60,000 $539,500 $465,000 Statement of Cash Flows Jan 1 - Dec 31 2018 Cash flows from operating activities: Net Income $ Depreciation AR AP Sale of equipment Inventories Cash flow from investing activities: Sale of equipment Purchase of equipment Cash flow from financing activities: Sale of common stock Dividend