The balance sheet for December 31, 2018, December 31, 2017, and the income statement for the year ended December 31, 2018, for Rocket Company follows.

Rocket Company
Balance Sheet
December 31, 2018 and 2017
	2018	2017
Assets
Cash	$ 25,000	$ 20,000
Accounts receivable, net	60,000	70,000
Inventory	80,000	100,000
Land	50,000	50,000
Building and equipment	130,000*	115,000
Accumulated depreciation	(85,000)	(70,000)
Total assets	$260,000	$285,000
Liabilities and Stockholders' Equity
Accounts payable	$ 30,000	$ 35,000
Income taxes payable	4,000	3,000
Wages payable	5,000	3,000
Current notes payable	50,000**	60,000
Common stock	110,000***	100,000
Retained earnings	61,000	84,000
Total liabilities and stockholders' equity	$260,000	$285,000
* During 2018 cash payments for building and equipment $15,000.
** During 2018 cash paid for retirement of notes payable $10,000.
*** During 2018 cash received from issuance of stock.

Rocket Company Income Statement For the Year Ended December 31, 2018
Sales		$500,000
Less expenses:
Cost of goods sold	$330,000
Selling and administrative expenses	90,000
(includes depreciation of $15,000)
Interest expense	5,000
Total expenses		425,000
Income before taxes		$ 75,000
Income tax expense		30,000
Net income		$ 45,000

Note: Cash dividends of $68,000 were paid during 2018.

Required:

Prepare the statement of cash flows for 2018. (Present cash flows from operations using the indirect approach.)