The 2016 comparative balance sheet and income statement of Allentown Group, Inc. follow. Allentown disposed of a plant asset at book value during 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 $12,200. 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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ALLENTOWN GROUP INC Income Statement Year Ended December 31, 2016 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses 439,000 205,300 233,700 76,600 15,600 49,800 Salanies Expense Other Operating Expenses Total Operating Expenses 142,000 91,700 Operating income Ocher Revenues and (Expenses: Interest Revenue Interest Expense Total Other Revenues and (Expenses 11,700 24,500) Net Income Before Income Taxes Income Tax Expense Net Income ー ー (12,800) 78,900 16,400 5 62,500 ALLENTOWN GROUP INC. Comparative Balance Sheet December 31, 2016 and 2015 2016 2015 Assets Current Assets: Cash Accounts Receirvable Merchand se Inventory $9,00015,100 43.300 93,400 42,300 97,200 Long-term Asets Plant Assers 111,140 16,840) 12,000 S 287.400 $258,100 121,540 20,240) 37,600 Tatal Assets Liabilities Current Labilites Accounts Payable Accrued tiabities s24,300 26,400 22,100 23,300 Long-term Liabilities 54,000 102,100 Notes Payable 67,000 115,500 Total Liablites Stockholders' Equity Common Stock, no par Retained Earnings Tatal Stockholders' Equity 31300 122,700 9,900 185,300142,600 54,000 Total Liablies and Stockholdens' Equity 28700 28,100 S 287400 258,100