The comparative balance sheets and income statements for Gypsy Company follow. Balance Sheets As of December 31 2222 1,333 66 6,194 8.420 15,827) 84331051 62.716 $47.059 Lablates and equty $2082 4,332 Accounts payable (inventory Long-term debt 23,100 100 Retained eamings Total abes and equity 562796 47.059 Cost of goods soid Gross margin Depreciation expeie (3,707) Operating income Oain on sale of equipment on disposal o 180) 18,929 Additional Data During 2017, the company sold equipment for $18,036; it had originally cost $28,400 Accumulated depreciation on this equipment was $11,114 at the time of the sale. Also, the company purchased equipment for $6,710 cash. 2 The company sold land that had cost $3,680. This land was sold for $3,600, resulting in the recognition of a $80 loss. Also, common stock was issued in exchange for title to land that was valued at $11,600 at the time of exchange. 3 Paid dividends of $9.465 Required Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)