Please show steps to solution. I want to make sure I clearly understand the process. Problem is on attached spreadsheet.

Samson Inc. purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, Cash Accounts receivable Inventory Equipment Accum. depreciation Accounts payable Unearned revenue Accrued salaries Taxes payable Long-term notes pay. Common stock Retained earnings Dec. 31, 2016 Dec. 31, 2015 Change $44,600 $43,000 $1,600 31,200 13,800 17,400 28,000 21,000 7,000 180,000 154,000 21,000 -46,000 -42,000 1,000 25,400 36,400 -11,000 16,200 21,200 -5,000 7,000 8,800 -1,800 11,600 8,000 3,600 37,000 55,000 -18,000 90,000 28,000 62,000 50,600 32,400 18,200 2016 Sales revenue $850,000 Cost of sales 425,000 Salaries expense 135,000 Depreciation expense 18,000 Interest expense 3,500 Loss on sale of equipment 3,000 Income taxes expense 44,000 Net income $221,500 Use the indirect method to prepare a cash flow statement in good form for 2016. ue of $22,000 at a loss, and declared dividends during 2016. No new notes payable were issued during the year. year