Nashville Records Company Uses the Indirect Method to Prepare Its

Nashville Records Company uses the indirect method to prepare its statement of cash flows. Refer to the following sections of the comparative balance sheet:
Nashville Records Company
Comparative Balance Sheet
December 31,2018 and 2017 $\begin{array}{llll}&2018&2017&\text{Increase}\\\text { Accounts Payable } & \$ 6,000 & \$ 9,000 & \$(3,000) \\\text { Accrued Liabilities } & 3,000 & 1,500 & 1,500 \\\text { Long-term Notes Payable } & \underline{126,000} & \underline{135,000} & \underline{(9,000)} \\\text { Total Liabilities } & \$ 135,000 & \$ 145,500 & \$(10,500)\end{array}$ $$\begin{array} { l l l r } \text { Common Stock } & 45,000 & 3,000 & 42,000 \\\text { Retained Earnings } & 169,500 & 111,000 & 58,500 \\\text { Treasury Stock } & \underline { ( 12,000 ) } & \underline { ( 7,500 ) } & ( 4,500 ) \\\text { Total Equity } & 2 0 2 , 5 0 0 & 106,500 & 96,000\end{array}$$ $\text { Total Liabilities and Stockholders' Equity } \quad \$ 337,500 \quad \$ 252,000\quad\$85,500$ Additional information for 2018:
• No stock was retired.
• No treasury stock was sold.
• The company repaid $60,000 of long-term notes payable.
• The company borrowed $51,000 on a new long-term note payable.
• Net income for the year was $68,000.
Prepare the financing section of the statement of cash flows for the year ended December 31, 2018.