Use the information to prepare the cash flow statement for Excel corporation for the year ended December 31,2019. Using the indirect method in good form.

ADDITIONAL INFORMATION: 1. Operating expenses include amortization expense of $33,000 and charges from prepaid expenses of $2,000. 2. Land was sold at its book value for cash. 3. Interest expense of $12,000 was paid in cash. 4. A cash dividend was also declared and paid in 2019. 5. Equipment with a cost of $166,000 was purchased for cash. Equipment with a cost of $41,000 and a book value of $36,000 was sold for $34,000 cash. 6. Bonds of $10,000 were redeemed at their book value for cash; bonds of $30,000 were converted into common shares. 7. Common shares of $130,000 were issued for cash