Condensed financial data of Jhutti Company appear below.

Additional information:
1. Equipment costing $92,000 was purchased for cash during the year.
2. Investments were sold at cost.
3. Equipment costing $47,000 was sold for $14,250, resulting in gain of $8,550.
4. A cash dividend of $80,600 was declared and paid during the year.
Instructions
Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns, using letters to cross-reference eachentry.

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Jhutti Company Comparative Balance Sheets December 31 2013 Assets Cash Accounts receivable Inventory Investments Equipment Accumulated depreciation-equipment 2014 $ 90,300 80,900 121,900 84,000 250,000 (46,600) $580,500 47,250 57,000 102,650 87,000 205,000 (40,000) $458,900 Liabilities and Stockholders' Equit Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 53,400 12,100 100,000 240,000 175,000 $580,500 48,280 18,830 70,000 200,000 121,790 $458,900 Jhutti Company Income Statement For the Year Ended December 31, 2014 Sales revenue Gain on disposal of plant assets $297,500 8,550 $306,050 Less: Cost of goods sold Operating expenses (excluding 99,460 depreciation expense) Depreciation expense Income taxes Interest expense 14,670 47,900 7,270 2,940 172,240 $133,810 Net income