The following information is taken from French Corporation's financial statements:

		December 31
		2018			2017
Cash		$ 89,060			$ 32,940
Accounts receivable		124,440			97,600
Allowance for doubtful accounts		(5,490)			(3,782)
Inventory		189,100			213,500
Prepaid expenses		9,150			8,296
Land		122,000			73,200
Buildings		352,580			297,680
Accumulated depreciation		(39,040)			(15,860)
Patents		24,400			42,700
		$866,200			$746,274
Accounts payable		$ 109,800			$ 102,480
Accrued liabilities		65,880			76,860
Bonds payable		152,500			73,200
Common stock		122,000			122,000
Retained earningsappropriated		97,600			12,200
Retained earningsunappropriated		336,720			369,294
Treasury stock, at cost		(18,300)			(9,760)
		$866,200			$746,274

		For 2018 Year
Net income		$89,426
Depreciation expense		23,180
Amortization of patents		6,100
Cash dividends declared and paid		36,600
Gain or loss on sale of patents		none

Prepare a statement of cash flows for French Corporation for the year 2018. (Use the indirect method.)