Use the Global Filter Corp. financial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 31, 2019, using the indirect method. Additional Information: a. Purchased machinery for $43,000 cash b. Sold the long-term investment on January 1, 2019 for $2,000. c. Sold machinery for $14,500 cash that had originally cost $69,500 and had $46,000 of accumulated depreciation. d. Issued $39,000 of bonds payable at face value.

\begin{tabular}{|c|c|c|} \hline \multirow{3}{*}{ Assets } & \multicolumn{2}{|c|}{ December 31} \\ \hline & 2019 & 2018 \\ \hline & 303,500 & 240,000 \\ \hline Accounts receivable. & 130,400 & 92,000 \\ \hline Merchandise inventory & 8,900 & 32,000 \\ \hline Long-term investment in stock... & 0 & 21,000 \\ \hline Machinery & 263,500 & 290,000 \\ \hline Accumulated depreciation, machinery & (129,000) & (150,000) \\ \hline Total assets & 577,300 & 525,000 \\ \hline \end{tabular} Liabilities and Stockholders' Equity \begin{tabular}{lrr} Accounts payable & 35,300 & 59,000 \\ Cash dividends payable & 24,000 & 41,000 \\ Bonds payable & 39,000 & 0 \\ Common stock & 281,000 & 281,000 \\ Retained earnings & 198,000 & 144,000 \\ \hline Total liabilities and stockholders' equity & 577,300 & 525,000 \\ \hline \end{tabular} \begin{tabular}{|lrr|} \hline \multicolumn{2}{|c|}{\begin{tabular}{c} Global Filter Corp \\ Income Statement \end{tabular}} \\ For Year Ended December 31, 2019 & \\ \hline Sales & 650,000 & \\ Cost of goods sold & 25,000 & \\ Depreciation expense & 43,000 & (718,000) \\ Other expenses. & & (19,000) \\ Loss on sale of long-term investment & & (9,000) \\ \hline Loss on sale of machinery & 54,000 \\ \hline Net income & & \\ \hline \end{tabular}