Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows.Prepare cash flow statement using the indirect method.Properly title the statement.

2018 2017

Net income

$142,500. $162,000

Depreciation Expense

42,000. 35,000

Purchase of Plant Assets

135,000. 125,000

Disposal of Plant Assets

40,000. 50,000

Gain (Loss) on Disposal of Plant Assets

(10,000). 5,000

Accounts Receivable Balance

64,500. 58,000

Accounts Payable Balance

42,000. 39,000

Interest Expense

8,000. 6,000

Income Taxes Paid

35,000. 28,000

Dividends Paid

30,000. 25,000

Common Stock Issued for Cash

20,000 0