Therese Equipment Company Use the following information to prepare a statement of cash flows using the indirect method for Therese Equipment Company for the year ended December 31, 2018 Net income for the year: $5,000 Accounts receivable decreased by $2,000 while inventories increased $4,000. Accounts payable decreased $7,000. Depreciation expense included in net income was $8,000. During the year, a piece of land held for future expansion was sold for its book value of $8,000 and a new service truck was purchased for $14,000. In addition, the company borrowed $18,000 on a two year note from the bank and paid dividends of $6,000. Preferred stock was issued to retire $7,000 of long term notes payable. On January 1, 2018 the cash balance was $22,000 and on December 31, 2018, the cash balance was $32,000