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The following information was gathered from Burton Company's financial records:

Net income	$45,000
Depreciation expense	18,000
Beginning cash balance	12,000
Increase in accounts receivable	6,000
Decrease in inventory	8,000
Increase in accounts payable	5,000
Decrease in accrued liabilities	3,000
Repayment of bank loan	15,000
Purchase of equipment	26,000

Required:

Using the indirect method, prepare a statement of cash flows for Burton Company.

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