Use the following data for Window Rock Company to prepare a statement of cash flows using the indirect method for the year ended June 30, 20x6.

Window Rock Company
Income Statement
For the Year Ended June 30, 20x6
Sales					$1,400,000
Less expenses
	Cost of goods sold	$800,000
	Depreciation expense	80,000
	Administrative expenses	208,000
	Selling expenses	140,000
	Loss on sale of investment	2,000		1,230,000
Income before income taxes					170,000
Income taxes expense					40,000
Net income			$ 130,000

Window Rock Company
Comparative Balance Sheets June 30, 20x6 and 20x5
Assets	20x6	20x5
Cash	$ 18,000	$ 60,000
Accounts receivable (net)	140,000	110,000
Inventory	160,000	200,000
Prepaid insurance	12,000	10,000
Long-term investments	80,000	100,000
Plant and equipment	320,000	160,000
Accumulated depreciation	(80,000)	(48,000)
Total assets	$650,000	$592,000
Liabilities
Accounts payable	$ 8,000	$ 24,000
Wages payable	880	1,040
Income taxes payable	3,120	2,960
Notes payable	80,000	48,000
Total liabilities	$ 92,000	$ 76,000
Stockholders' Equity
Common stock	$ 232,000	$260,000
Retained earnings	326,000	256,000
Total stockholders' equity	$558,000	$516,000
Total liabilities and stockholders' equity	$650,000	$592,000

Additional information:

	A plant asset costing $80,000 was sold for its book value of $32,000.
	A long-term investment was sold for $18,000.
	The outstanding notes are long-term. A $32,000 note was issued during 20x6.