Data for Saffordville Company are presented in P17 9B Further analysis
Data for Saffordville Company are presented in P17-9B. Further analysis reveals that accounts payable pertain to merchandise creditors.
In P17-9B, 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.

Prepare a statement of cash flows for Saffordville Company using the directmethod.
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