Prepare the 2007 Statement of Cash Flows for Robins Corporation, using the indirect method. The following information has been provided to you:

DECEMBER 31,

2007 2006

current assets:

cash & cash equivalents |19,000| |3,000|

Accounts receivable |22,000| |23,000|

Inventories |34,000| |31,000|

Prepaid Expenses |1,000| |3,000|

Current liabilities:

notes payable (inventory purchases) |11,000| |7,000|

Accounts payable |24,000| |19,000|

Accrued Liabilities |7,000| |9,000|

income tax payable |10,000| |10,000|

Transaction Data For 2007:

Purchase of equipment |98,000|

Payment of cash dividends |18,000|

Net income |26,000|

Purchase of long term investment |8,000|

Depreciation expense |7,000|

issuance long term not payable to borrow cash |7,000|

issuance of common stock for cash |19,000|

sale of building |74,000|

Amortization expense |3,000|

Purchase of treasury stock |5,000|

Loss on sale of building |2,000|