Problem - Following are the line items included in the 2009 statement of cash flows prepared by The Nine Muses, Inc. (amounts are in thousands):
Proceeds from sale of long-term investment $14,077
Depreciation expenses 8,275
Increase in accounts receivable 2,396
Increase in accounts payable 6,590
Purchase of long-term investment 29,939
Net income 22,214
Increased in accrued salaries 4,072
Proceeds from sale of property and equipment 2,468
Increase in inventories 7,320
Issuance of long-term notes 126
Reduction of long-term debt 572
Gain on disposal of long-term assets 415
Issuance of common stock 10,000
Cash and cash equivalent, beginning of the year 21,750
Increase in income taxes payable 5,608
Acquisition of property and equipment 31,083
Net increase (decrease) in cash and cash equivalents ?
Cash and cash equivalents, end of year ?
Required: Prepare The Nine Muse's statement of cash flows using the indirect method.