The comparative balance sheets for Kohl Company appear below. KOHL COMPANY Comparative Balance Sheet Dec. 31.2007 Dec. 31.2006 Assets Cash $ 23,000 $12,000 Accounts receivable 18,000 14,000 Prepaid expenses 6,000 9,000 Inventory 27,000 18.000 Long-term investments 18,000 Equipment 60,000 30,000 Accumulated depreciation equipment (18,000) (14,000 Total assets $116,000 $87.000 -0- Liabilities and Stockholders' Equity Accounts payable $ 21,000 Bonds payable 37,000 Common stock 40,000 Retained eamings 18.000 Total liabilities and stockholders' equity $116,000 $ 9,000 45,000 23,000 10,000 $87 000 Additional information: 1. Net income for the year ending December 31, 2007 was $20,000. 2. Cash dividends of $12,000 were declared and paid during the year 3. Long-term investments that had a cost of $18,000 were sold for $16,000. 4. Sales for 2007 were $120,000. Instructions Prepare a statement of cash flows for the year ended December 31, 2007