Condensed financial data of Saffordville Company are shown below
Condensed financial data of Saffordville Company are shown below.


Additional information:
1. New equipment costing $146,000 was purchased for cash during the year.
2. Investments were sold at cost.
3. Equipment costing $36,000 was sold for $15,000, resulting in a gain of $5,000.
4. A cash dividend of $48,000 was declared and paid during the year.

Instructions
Prepare a statement of cash flows using the indirectmethod.
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