The Following Information Is Available for Sally Corporation for the Year

The following information is available for Sally Corporation for the year ended December 31 2017: $\begin{array}{lr}\text { Collection of principal on long-term loan to a supplier } & \$ 15,000 \\\text { Acquisition of equipment for cash } & 10,000 \\\text { Proceeds from the sale of long-term investment at book value } & 20,000 \\\text { Issuance of common stock for cash } & 27,000 \\\text { Depreciation expense } & 28,000 \\\text { Redemption of bonds payable at carrying (book) value } & 35,000 \\\text { Payment of cash dividends } & 15,000 \\\text { Net income } & 25,000 \\\text { Purchase of land by issuing bonds pavable } & 45,000\end{array}$ In addition the following information is available from the comparative balance sheet for Sally at the end of 2016 and 2017: $\begin{array}{lrr}&2017&2016\\\text { Cash } & \$ 66,000 & \$ 14,000 \\\text { Accounts receivable (net) } & 20,000 & 16,000 \\\text { Prepaid insurance } & 18,000 & 13,000 \\\text { Total current assets } & \$ 104,000 & \$ 43,000\\\\\text { Accounts payable } & \$ 30,000 & \$ 20,000 \\\text { Salaries payable } & {3,000}& 7,000 \\\text { Total current liabilities } & \$ 33,000 & \$ 27,000\end{array}$ Instructions
Prepare Sally's statement of cash flows for the year ended December 31 2017 using the indirect method.