The Comparative Balance Sheets for Gillen Inc Additional Information:
1

The comparative balance sheets for Gillen Inc. appear below: $\begin{array}{|l|r|r|}\hline& \operatorname{Dec} 31,20X 7 & \text { Dec. } 31,20X 6\\\hline\text { Assets }\\\hline \text { Cash } & \$ 29,000 & \$ 10,000 \\\hline \text { Trade receivables } & 23,000 & 14,000 \\\hline \text { Prepaid expenses } & 6,000 & 9,000 \\\hline \text { Inventory } & 25,000 & 15,000 \\\hline \text { Long-term investments } & 0 & 23,000 \\\hline \text { Equipment } & 57,000 & 30,000 \\\hline \text { Accumulated depreciation-equipment } & \$ 18,000 & \underline{(14,000)} \\\hline \text { Total assets } &\$122,000 & \$ 87,000 \\\hline \text { Liabilities and Shareholders' Equity } & & \\\hline \text { Trade payables } & 21,000 & \$ 9,000 \\\hline \text { Mortgage notes payable } & 37,000 & 45,000 \\\hline \text { Common shares } &40,000 & 23,000 \\\hline \text { Retained earnings } & \underline{24,000} & 10,000 \\\hline \text { Total liabilities and shareholders' equity } &\$122,000& \$ 87,000 \\\hline\end{array}$ Additional information:
1. Net earnings for the year ending December 31, 20X7 were $27,000.
2. Cash dividends of $13,000 were declared and paid during the year ended December 31 20X7 .
3. Long-term investments that had a carrying amount of $23,000 were sold for $18,000 in 20X7. Prepare a cash flow statement for the year ended December 31, 20X7, using the indirect method.