The table above contains two balance sheets of Hall Company. All figures are in dollars. Hall reported a net income of ($1,000) i.e. a net loss of $1,000 on its 2008 income statement. During 2008 Hall sold some equipment for $5,000. Hall had bought this equipment in 2002 for $35,000 and its book value on the date of sale in 2008 was $12,000. During 2008 Hall sold for $15,000 some land with a book value of $5,000 on the date of sale in 2008. The land does not contain a mine or oil well. Prepare Halls Cash Flow Statement for 2008 in proper format.

Assets Dec 31, 2007 Cash 30,000 30.000 Accounts Receivable (4,000) Allowance for Doubtful Accounts 10,000 Inventory 30,000 Land 94,000 Equipment Accumulated Depreciation on Equipment 30,000) 160.000 Total Assets Liabilities and Equity 20,000 Accounts payable Bank Loan 60,000 20,000 Common Stock Par 33.000 Additional Paid in Capital 27,000 Retained Earnings 160,000 Total Liabilities and Equity Dec 31, 2008 5,000 50,000 (5,000) 25,000 37,000 103,000 (40,0000 175,000 12,000 70,000 25.000 45,000 23.000 175,000