The comparative balance sheets and income statements for Gypsy Company follow:

Balance Sheets As of December 31
	Year 2				Year 1
Assets
Cash	$	23,317			$	2,547
Accounts receivable		2,348				1,409
Inventory		6,591				6,179
Equipment		20,455				42,835
Accumulated depreciationequipment		(8,659	)			(16,085	)
Land		20,048				8,628
Total assets	$	64,100			$	45,513
Liabilities and equity
Accounts payable (inventory)	$	2,699			$	4,360
Long-term debt		3,058				6,990
Common stock		24,300				9,500
Retained earnings		34,043				24,663
Total liabilities and equity	$	64,100			$	45,513

Income Statement For the Year Ended December 31, Year 2
Sales revenue	$	36,410
Cost of goods sold		(14,431	)
Gross margin		21,979
Depreciation expense		(3,638	)
Operating income		18,341
Gain on sale of equipment		500
Loss on disposal of land		(80	)
Net income	$	18,761

Additional Data

1. During Year 2, the company sold equipment for $18,836; it had originally cost $29,400. Accumulated depreciation on this equipment was $11,064 at the time of the sale. Also, the company purchased equipment for $7,020 cash.
2. The company sold land that had cost $3,380. This land was sold for $3,300, resulting in the recognition of a $80 loss. Also, common stock was issued in exchange for title to land that was valued at $14,800 at the time of exchange.
3. Paid dividends of $9,381.

Required Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities Less: Increases in current assets and Decreases in current liabilities Plus: Noncash charges Cash flows from investing activities Cash flows from financing activities Ending cash balance Schedule of noncash investing and financing activities