AND SO ONAdditional information:1. Operating expenses include depreciation expen

AND SO ONAdditional information:1. Operating expenses include depreciation expense of $42000 and charges from prepaid expenses of $5720.2. Land was sold for cash at book value.3. Cash dividends of $15000 were paid.4. Net income for 2007 was $37000.5.
Equipment was purchased for $95000 cash. In addition equipment
costing $22000 with a book value of $10000 was sold for $6000 cash.6. Bonds were converted at face value by issuing 40000 shares of $1 par value common stock. Cash from operations $105000InstructionsPrepare a statement of cash flows for the year ended December 31 2007 using the indirect method.