Condensed financial data of Oakley Company appear below.

Additional information:
1. Equipment costing $97,000 was purchased for cash during the year.
2. Investments were sold at cost.
3. Equipment costing $47,000 was sold for $15,550, resulting in gain of $8,750.
4. A cash dividend of $83,400 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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OAKLEY COMPANY Comparative Balance Sheets December 31 Assets 2014 82,700 90,800 126,900 84,500 255,000 (49,500) 2013 $ 47,250 57,000 102,650 87,000 205,000 (40,000) $458,900 as nts receivable Inventory Investments Equipment Accumulated depreciation-buildings $590,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 57,700 12,100 100,000 250,000 170,600 $590,400 S 48,280 18,830 70,000 200,000 121,790 $458,900 OAKLEY COMPANY Income Statement For the Year Ended December 31, 2014 Sales revenue Gain on disposal of equipment $297,500 8,750 306,250 Less: Cost of goods sold Operating expenses (excluding 99,460 depreciation expense) Depreciation expense Income tax expense Interest expense 14,670 49,700 7,270 2,940 174,040 $132,210 Net income