Prepare the cash flows from operations section of J. Briggs Inc.'s 2018 statement of cash flows using the indirect method. Enter items to be subtracted as negative values.

J. Briggs Inc.				J. Briggs Inc.
Income Statement				Comparative Balance Sheets
For years ended December 31, 2017 and 2018				December 31, 2018 and 2017
					2018	2017	Change
	2018	2017		Current assets:
Sales (all on credit)	$561,000	$505,000		Cash	$66,690	$43,100	$23,590
Cost of goods sold	(330,000)	(271,000)		Accounts receivable (net)	46,000	38,000	8,000
Gross margin	231,000	234,000		Inventory	50,000	48,000	2,000
				Prepaid expenses	1,400	3,000	-1,600
Depreciation expense	38,000	53,000		Other current assets	1,900	2,900	-1,000
Other operating expenses	120,000	100,000		Total current assets	165,990	135,000	30,990
Total operating expenses	158,000	153,000
Operating income	73,000	81,000		Long-term Investments	89,000	62,000	27,000
Other income (expenses)				Plant assets	314,000	263,000	51,000
Interest expense	(5,100)	(3,800)		Less: accumulated depreciation	(80,400)	(53,000)	27,400
Gain on sale of investments	5,800	4,100		Total plant assets	233,600	210,000	23,600
Loss on sale of plant assets	(3,000)	(3,600)		Total assets	488,590	407,000	81,590
Total other income (expenses)	(13,900)	(3,300)
				Current liabilities:
Income before income taxes	70,700	77,700		Accounts payable	$31,300	$32,000	$-700
Income taxes expense	(21,210)	(23,310)		Accrued liabilities	7,200	6,000	1,200
Net income	$49,490	$54,390		Income taxes payable	1,600	6,000	-4,400
				Total current liabilities	40,100	44,000	-3,900
J. Briggs Inc.				Long term liabilities:
Statement of Retained Earnings				Notes Payable	256,000	190,000	66,000
For the year ended December 31, 2018				Total liabilities	296,100	234,000	62,100
	2018	2017
Ret. earnings, Jan. 1	$35,000	$0		Stockholders' equity
Add: net income	49,490	54,390		Common stock, $5 par value	110,000	110,000	0
Deduct: Dividends	(30,000)	(19,390)		Additional paid-in capital	28,000	28,000	0
Increase in retained earnings	19,490	35,000		Retained earnings	54,490	35,000	19,490
Ret. earnings, Dec. 31	$54,490	$35,000		Total stockholders equity	192,490	173,000	19,490
				Total liabilities and stockholders equity	$488,590	$407,000	$81,590
Other information:
Shares of common stock outstanding	22,000	22,000
Earnings per share	$2.25	$2.47
Dividends per share	$1.36	$0.88
Market price per share, common stock	$15	$13