The post-closing trial balance as of December 31, 1997 and the adjusted trial balance as of December 31, 1998 are shown for the Boilermaker Company: December 31, 1997 Post-closing T/B Adjusted T/B December 31, 1998 $2,700 5,900 15,300 1,400 8,300 16,300 68,700 Cash $3,520 6,215 15,530 1,000 7,300 19,000 60,700 Accounts Receivable Inventories Prepaid items Investments (long term) Land Buildings Accum. Depr.-Buildings Equipment Accum. Depr.-Equipment Patents (net) Accounts Payable Interest Payable Wages Payable Bonds Payable Discount on B/P Common stock, $10 par PIC-C/S Retained Earnings $35,000 $34,500 29,600 25,600 14,200 14,700 8,700 9,185 9,195 300 8,900 630 2,500 23,000 2,600 17,000 715 22,000 15,320 35,350 156,900 22,650 15,970 35,350 156,900 Sales (net) 49,550 Cost of goods sold Wages expense Other operating expenses Depr. Exp.- Buildings Depr. Exp.- Equipment Amort. Exp. Interest expense Loss on sale of investments 23,800 16,510 1,100 2,700 3,100 815 Patents 1,715 200 Interest revenue 790 1,300 Gain on exchange of assets Income Tax expense Other (unusual) loss Dividends (declared) 500 2,600 2,100 203,905 203,905 A review of the accounting records, reveals the following: (A) Bonds Payable with a face value, book value, and market value of $14,000 were retired on June 30, 1998. (B) Bonds Payable with a face value of $8,000 were issued at 90.25 (i.e. 90.25% of face value) on August 1, 1998. They mature on August 1, 2003 and the company uses the straight-line method of amortization. (C)A tornado completely destroyed a small building that had an original cost of $8,000 and a book value of $4,800. with an insurance company resulted in an after-tax proceeds of $2,200 and an unusual (other) loss of $2,600. Settlement (D) Equipment with a cost of $4,000 and a book value of $1,400 was exchanged for an acre of land valued at $2,700. No cash was exchanged. The transaction was properly considered to be an asset exchange with commercial substance. (E) Long-term investments in bonds being held to maturity with a cost of $1,000 was sold for $800. (F) 65 shares of common stock were exchanged for a patent. common stock was selling for $20 per share at the exchange. The REQUIRED: Prepare a statement of cash flows for the year ended December 31, 1998 in good form using the indirect method, according to GAAP