Presented below are the financial statements of Vaughn Manufacturing.

Vaughn Manufacturing Comparative Balance Sheets December 31
Assets		2017			2016
Cash		$ 59,500			$ 34,000
Accounts receivable		34,000			23,800
Inventory		47,600			34,000
Property, plant, and equipment		102,000			132,600
Accumulated depreciation		(54,400	)		(40,800	)
Total		$188,700			$183,600
Liabilities and Stockholders Equity
Accounts payable		$ 32,300			$ 25,500
Income taxes payable		11,900			13,600
Bonds payable		28,900			56,100
Common stock		30,600			23,800
Retained earnings		85,000			64,600
Total		$188,700			$183,600

Vaughn Manufacturing Income Statement For the Year Ended December 31, 2017
Sales revenue				$411,400
Cost of goods sold				297,500
Gross profit				113,900
Selling expenses		$30,600
Administrative expenses		10,200		40,800
Income from operations				73,100
Interest expense				5,100
Income before income taxes				68,000
Income tax expense				13,600
Net income				$ 54,400

Additional data:

1.		Depreciation expense was $29,750.
2.		Dividends declared and paid were $34,000.
3.		During the year equipment was sold for $14,450 cash. This equipment cost $30,600 originally and had accumulated depreciation of $16,150 at the time of sale.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)