Skyler's Wine Company Uses the Direct Method to Prepare Its

Skyler's Wine Company uses the direct method to prepare its statement of cash flows.Refer to the following financial statement information for the year ending December 31,2017:
$\begin{array}{c} \text { Skyler's Wine Company}\\\text { Income Statement}\\\text { Year Ended December 31, 2017}\\\begin{array}{|l|r|r|}\hline \text { Sales Revenue } & \$ 291,300 & \\\hline \text { Interest Revenue } & 1,000 & \\\hline \text { Gain on Sale of Plant Assets } & \underline{6,000} & \\\hline \text { Total Revenues and Gains } & & \$ 298,300 \\\hline \text { Cost of Goods Sold } & 145,000 \\\hline \text { Salaries and Wages Expense } & 49,000 \\\hline \text { Depreciation Expense - Plant Assets } & 16,000 \\\hline \text { Other Operating Expense } & 25,000 \\\hline \text { Interest Expense } & 3,500 \\\hline \text { Income Tax Expense } & 7,800 \\\hline \text { Total Expenses } & & 246,300 \\\hline \text { Net Income } & & \$ 52,000\\\hline\end{array}\end{array}$ Additional information provided by the company includes the following:
Equipment costing $60,000 was purchased for cash.
Equipment with a net asset value of $10,000 was sold for $16,000.
During 2017,the company repaid $43,000 of long-term notes payable.
During 2017,the company borrowed $34,000 on a new note payable.
There were no stock retirements during the year.
There were no sales of Treasury Stock during the year.
Prepare a complete statement of cash flows using the direct method.
Accrued Liabilities relate to other operating expenses.