The following three accounts appear in the general ledger of Cullumber Company during 2017.

From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was $22,432. (Hint: Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $148,612.) (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Equipment Date Debit Jan. 1 Balance July 31 Purchase of equipment 196,280 148,612 Sept. 2 Cost of equipment constructed Nov. 10 Cost of equipment sold Accumulated Depreciation-Equipment Date Debit Jan. 1 Balance Nov. 10 Accumulated depreciation on equipment sold 44,864 Dec. 31 Depreciation for year Retained Earnings Date Debit Jan. 1 Balance Aug. 23 Dividends (cash) 39,256 Dec. 31 Net income Credit Balance 448,640 644,920 793,532 137,396 656,136 Credit Balance 199,084 154,220 78,512 232,732 Credit Balance 294,420 255,164 201,888 457,052