Visual Inspection The following changes in account balances and other information for 2007 were taken from the accounting records of the Gordon Company:

Net Changes for 2007

Debit

Credit

Cash

$1,000

Accounts receivable

$1,100

Inventory

2,000

Buildings and equipment

8,800

Accumulated depreciation

2,900

Accounts payable

900

Common stock, no par

5,500

Retained earnings

3,200

$12,700

$12,700

Other information: Net income totaled $5,800. Dividends were declared and paid. Equipment was purchased for $8,800. No buildings and equipment were sold during the year. One hundred shares of common stock were sold for $55 per share. The ending cash balance was $4,200.

Required

Using visual inspection, prepare a 2007 statement of cash flows for the Gordon Company.