Question 01. McKnight Exercise Equipment, Inc., reported the following financial statements for 2018:

Income Statement

Sales		$714,000
Cost of Goods sold	$ 347,000
Depreciation	$52,000
Other expenses	$205,000
Total Expenses		$604,000
Net Income		$110,000

Comparative Balance Sheet

Assets	2018	2017	Liabilities	2018	2017
Current Assets:			Current Liabilities:
Cash	19000	18000	A/C Payable	73000	72000
A/C Receivables	54000	49000	Salary payable	2000	5000
Inventory	81000	89000	Long term bonds	59000	66000
Long term investment	95000	77000	Equity:
Plant assets(net)	221,000	183,000	Shares	47000	34000
			Retained Earnings	289000	239000
	470,000	416,000		470,000	416,000

From the information above make a statement of cash flows for McKnight using the indirect method.