The 2016 comparative balance sheet and income statement of Abilene Group, Inc. follow. Abilene disposed of a plant asset at book value in 2016.

Prepare the spreadsheet for the 2016 statement of cash flows. Format cash flows from operating activities by the indirect method. A plant asset was disposed of for $0. The cost and accumulated depreciation of the disposed asset was $12,400. There were no sales of land, no retirement of common stock, and no treasury stock transactions. Assume plant asset and land acquisitions were for cash.

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ABILENE GROUP INC. Income Statement Year Ended December 31, 2016 442,000 205,200 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Salaries Expense Depreciation Expense Other Operating Expenses Total Operating Expensers 76,800 15,900 49,600 142,300 94,500 Operating Income Other Revenues and (Expenses) Interest Revenue Interest Expense Total Other Revenues and (Expenses) 11,300 (24,200) Net Incone Before Income Taxes Income Tax Expense Net Income 12,900) 81,600 16,600 65,000 ABILENE GROUP INC Comparative Balance Sheet December 31, 2016 and 2015 2016 2015 Assets Current Assets: S 10,600 15,700 Accounts Receivable 41,900 93,100 Long-term Assets Plant Assets 121,860 112,060 21,060)(17,560) 14,000 $ 289,200 $260,800 39,600 Total Assets Labilities Current Labilities Accounts Payable Accrued Liabilities $ 25,100 24,100 26,300 22,400 Long-term Liabilities: Notes Payable 44,000 93,200 61,000 109,700 Total Labilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders Equity Total Liabilities and Stockholders Equity 140,400 55,600 196,000 $289,200 131,600 19,500 151,100 $260,800