Selected financial information for the Bravo Zulu company for the fiscal year ended December 31, 2016 is as follows:
| Net Income | $122,500 |
| Depreciation expense | 50,000 |
| Purchases of plant assets | 125,000 |
| Disposals of plants assets | 50,000 |
| Gain on Disposal of plant assets | 5,000 |
| Accounts receivable decreased | 2,500 |
| Accounts payable decreased | 4,000 |
| Interest expense | 5,000 |
| Income tax expense | 2,500 |
Additionally, Bravo-Zulu issued stock in exchange for an outstanding note payable of $72,500. The cash balance on January 1, 2016 was $25,000. The January 1, 2016 balance for Retained earnings was $250,000 and the December 31, 2016 balance for Retained Earnings was $342,500. Use this information to prepare Bravo-Zulu Company’s Statement of Cash Flows for the year ended December 31, 2016 using the indirect method.
