The comparative balance sheets of Buffalo Inc. at the beginning and the end of the year 2017 are as follows.

BUFFALO INC. BALANCE SHEETS
		Dec. 31, 2017		Jan. 1, 2017		Inc./Dec.
Assets
Cash		$ 46,260		$ 14,260		$32,000	Inc.
Accounts receivable		94,980		90,720		4,260	Inc.
Equipment		42,980		24,720		18,260	Inc.
Less: Accumulated Depreciation-Equipment		20,980		11,000		9,980	Inc.
Total		$163,240		$118,700
Liabilities and Stockholders Equity
Accounts payable		$ 23,980		$ 17,720		6,260	Inc.
Common stock		101,260		82,720		18,540	Inc.
Retained earnings		38,000		18,260		19,740	Inc.
Total		$163,240		$118,700

Net income of $47,980 was reported, and dividends of $28,240 were paid in 2017. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2017.