Problem $6$

The financial statements of Frank B$.$ Robinson Company appear below:

Frank B$.$ Robinson Company

Income Statement

Additional Information:

During the year equipment was sold for $$8,500$ cash. This equipment cost $$18,000$ originally

and had a book value of $$8,500$ at the time of sale.

All depreciation expense is in the selling category

All sales and purchases are on account.

Required:

Prepare a statement of cash flow using the indirect method.