Alegre Retail Corporation”s most recent comparative Balance Sheet is as follows:

 

Ending

Beginning

Assets

 

 

Cash

$ 7,000

$ 12,000

Accounts receivable, net

11,000

2,000

Merchandise inventory

39,000

24,000

Long term investments

23,000

9,000

Equipment

83,000

100,000

Accumulated depreciation

(66,000)

(62,000)

Total assets

$97,000

$ 85,000

Liabilities and Stockholders’ Equity

 

 

Accounts payable

$ 9,000

$28,000

Taxes payable

1,000

2,000

Notes payable

16,000

10,000

Common stock

42,000

30,000

Retained earnings

29,000

15,000

Total liabilities and stockholders’ equity

$97,000

$85,000

Alegre”s net income was $34,000. No direct exchange transactions occurred at Alegre during the year. No equipment was purchased. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment sold was$12,000. Cash dividends of $20,000 were declared and paid during the year. Alegreuses the indirect method to prepare its statement of cash flows.

Required:

Prepare Alegre”s statement of cash flows.