Comparative balance sheets for International Company are presented below.

Additional information:
1. Net income for 2014 was $135,000.
2. Cash dividends of $70,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $50,000 cash.
5. Depreciation expense was $24,000.
6. Sales for the year were $978,000.

Instructions
Prepare a worksheet for a statement of cash flows for 2014 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference eachentry.

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INTERNATIONAL COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment 2014 2013 73,000 85,000 180,000 75,000 250,000 (66,000) $597,000 $22,000 76,000 189,000 100,000 200,000 (42,000) $545,000 Total Liabilities and Stockholders' Equit Accounts payable Bonds payable Common stock ($1 par) Retained earnings 34,000 150,000 214,000 199,000 $597,000 47,000 200,000 164,000 134,000 $545,000 Total