The controller of Infinity Stone Corporation has provided you with the following information:

Infinity Stone Corporation

Income Statement

For the Year Ended December 31, 2018

Net sales	$620,000
Operating expenses	410,000
Income from operations	210,000
Other revenues and expenses
Gain on sale of equipment $30,000
Interest expense 8,000
$22,000
Income before income taxes	232,000

Net income

Infinity Stone Corporation

Comparative Account Information

Relating to Operations

For the Year Ended December 31, 2018

2018 2017

Accounts receivable $56,000 $40,000

Prepaid insurance 5,000 6,000

Accounts payable 59,000 47,000

Interest payable 600 1,500

Income taxes payable 4,200 6,000

Unearned revenue 20,000 14,000

Required

1. Prepare a statement of cash flows (for operating activities only) for the year ended December 31, 2018, using the indirect method.