Extracted text: Diamond Corp. has provided the following information for the year ended December 31, 2018. Diamond Corp Comparative Balance Sheet December 31, 2018 and 2017 Increase 2018 2017 (Decrease) $33,000 29,000 56,000 126,000 $244,000 $13,000 36,000 29,000 92.000 $170,000 $20,000 (7,000) 27,000 34.000 $74.000 Cash Accounts Receivable Merchandise Inventory Plant Assets, net Total Assets Accounts Payable $9,000 7,000 70,000 86.000 $13,000 3,000 79,000 95.000 $(4,000) 4,000 (9,000) (9.000) Accrued Liabilities Long-term Notes Payable Total Liabilities Common Stock Retained Earnings Treasury Stock Total Stockholders' Equity Total Liabilities and Stockholders' Equity 52,000 37,000 (6,000 83,000 $74.000 55,000 115,000 (12.000) 158,000 $244.000 3,000 78,000 (6,000) 75,000 $170,000 Diamond Corp Income Statement Year ended December 31, 2018 $291,300 1,000 6.000 Sales Revenue Interest Revenue Gain on Sale of Plant Assets $298,300 Total Revenues and Gains Cost of Goods Sold Salaries and Wages Expense Depreciation Expense-Plant Assets Other Operating Expense Interest Expense Income Tax Expense Total Expenses 145,000 49,000 16,000 25,000 3,500 7.800 246,300 $52.000 Net Income
Extracted text: Diamond Corp Income Statement Year ended December 31, 2018 $291,300 1,000 6.000 Sales Revenue Interest Revenue Gain on Sale of Plant Assets $298,300 Total Revenues and Gains Cost of Goods Sold 145,000 49,000 16,000 25,000 3,500 7,800 Salaries and Wages Expense Depreciation Expense-Plant Assets Other Operating Expense Interest Expense Income Tax Expense Total Expenses Net Income 246,300 $52.000 Additional information provided by the company includes the following: Equipment costing $60,000 was purchased for cash. Equipment with a net book value of $10,000 was sold for a gain of $6,000. During 2018, the company repaid $43,000 of long-term notes payable. During 2018, the company borrowed $34,000 on a new long-term note payable. Prepare the 2018 statement of cash flows, using the indirect method.