SHEFFIELD INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016
		12/31/17			12/31/16
Cash		$6,000			$7,000
Accounts receivable		62,600			50,600
Short-term debt investments (available-for-sale)		35,200			18,100
Inventory		39,600			59,700
Prepaid rent		5,000			4,000
Equipment		152,800			128,900
Accumulated depreciationequipment		(34,900	)		(24,800	)
Copyrights		45,900			49,800
Total assets		$312,200			$293,300
Accounts payable		$45,900			$39,900
Income taxes payable		4,000			6,000
Salaries and wages payable		8,100			3,900
Short-term loans payable		8,000			10,000
Long-term loans payable		60,500			68,500
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		55,700			35,000
Total liabilities & stockholders equity		$312,200			$293,300

SHEFFIELD INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2017
Sales revenue				$337,675
Cost of goods sold				175,500
Gross profit				162,175
Operating expenses				119,500
Operating income				42,675
Interest expense		$11,300
Gain on sale of equipment		2,000		9,300
Income before tax				33,375
Income tax expense				6,675
Net income				$26,700

Additional information:

1.		Dividends in the amount of $6,000 were declared and paid during 2017.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $20,000 and was 70% depreciated was sold during 2017.

Prepare a statement of cash flows using the indirect method.