The comparative statements of financial position of Mikos Inc. as at December 31, 2017 and 2018, and its statement of earnings for the year ended December 31, 2018, are presented below:

Additional information is as follows:
a.	Land was sold for cash at its carrying amount.
b.	The short-term investments will mature in February 2019 (i.e. these are cash equivalents).
c.	Cash dividends were declared and paid in 2018.
d.	New equipment with a cost of $167,500 was purchased for cash, and old equipment was sold at its carrying amount.
e.	Long-term notes of $17,500 were paid in cash, and notes of $37,500 were converted to shares.

Required:
1.	Prepare a statement of cash flows for Mikos Inc. for the year ended December 31, 2018 by using the indirect method. When dealing with depreciation and amortization expenses (in the operating section), place them together as a single line item. (Negative answers should be indicated by a minus sign.)

2017 $ MIKOS INC Comparative Statements of Financial Position December 31 2018 Assets Cash 10.500 Short-term investments 70,500 Accounts receivable 75,500 Inventories, at cost 57,000 Prepaid expenses 5,500 Land 51,000 Property, plant, and equipment, net 286,000 Intangible assets 25,500 18.500 39,500 32,000 41,500 9,000 77.500 186,500 31,000 $ 581,500 $ 435,500 $ Liabilities and Shareholders' Equity Accounts payable Income tax payable Accrued liabilities Long-term notes payable Contributed capital Retained earnings 18,500 $ 43,000 9,000 2.500 11,500 125,000 180,000 230.000 67.500 187,500 142,500 $ 581,500 $ 435,500 $ 895,000 MIKOS INC Statement of Earnings For the Year Ended December 31, 2018 Sales Cost of sales Amortization expense-intangible assets Depreciation expenseproperty, plant, and equipment Operating expenses Interest expense $ 445,000 5,500 34.500 236,000 13,500 734,500 Earnings before income taxes Income tax expense 160.500 48,150 Net earnings $ 112,350 MIKOS INC. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Net earnings Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization expense Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Increase in income tax payable Increase in accrued liabilities Net cash flow from operating activities Cash flows from investing activities: Sale of land Purchase of equipment Sale of equipment Net cash flow used for investing activities Cash flows from financing activities: Repayment of long-term note Issuance of common shares Payment of cash dividends Net cash flow from financing activities Net decrease in cash and short-term investments Cash and short-term investments, beginning of year Cash and short-term investments, end of year 51,000 51,000 $