The following three accounts appear in the general ledger of Beiber Corp. during 2017.

Instructions
From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was $8,000. Cost of equipment constructed is reported in the investing activities section as a decrease in cash of $53,000.

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Equipment Debit Balance Balance July 3 Purchase of equipment Sept. 2 Cost of equipment constructed 70,000 53,000 Cost of equipment sold Accumulated Depreciation-Equipment Balance Balance Accumulated depreciation on Nov. 10 equipment sold 16,000 Dec. 3Depreciation for year Retained Earnings Debit Jan. Balance Aug. 23Dividends (cash) Dec. 31 105,000 14,000 Net income 163,000