Tulip Inc.s balance sheet is as follows:

Balance Sheet	January 1	December 31
Assets:
Cash	$ 12,000	$ 7,000
Accounts receivable	2,000	11,000
Inventory	24,000	39,000
Long-term investments	9,000	23,000
Property, plant, & equipment	100,000	83,000
Less accumulated depreciation	(62,000)	(66,000)
Total	$ 85,000	$97,000
Liabilities and stockholders equity:
Accounts payable	$ 28,000	$ 9,000
Income taxes payable	2,000	1,000
Bonds payable	10,000	16,000
Common stock	30,000	42,000
Retained earnings	15,000	29,000
Total	$85,000	$97,000

Tulip reported net income of $34,000 and paid $20,000 of cash dividends. No equipment was purchased, and no long-term investments were sold. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment that was sold was $12,000. Prepare Tulips statement of cash flows using the indirect method.