Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)

Cash balance at prior year-end	$	44,000			Gain on sale of machinery	$	3,000
Increase in inventory		9,000			Cash received from sale of machinery		11,500
Depreciation expense		8,000			Increase in accounts payable		3,500
Cash received from issuing stock		12,000			Net income		63,000
Cash paid for dividends		5,000			Decrease in accounts receivable		7,000

VPI CO. Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $ 0 Cash flows from investing activities 0 Cash flows from financing activities 0 $ 0 0