The following information was taken from the accounting records of the Magnolia Company:

Additional Information:

• Net income was $24,350.
• Land costing $18,000 was purchased with the issuance of a bond payable.
• Equipment costing $15,000 (with a net book value of $3,500) was sold for $2,000.
• Common stock was issued for cash.
• Fixed assets were properly depreciated and intangible assets were properly amortized.

Required

Prepare a statement of cash flows in good form.