Inland Equipment’s accountants assembled the following data for the year ended June 30, 2014.

Net Income ..................$60,000

Proceeds from issuance of common shares ...... 20,000

Payment of dividends ................ 6,000

Increase in current assets other than cash ...... 30,000

Purchase of treasury shares ............ 5,000

Purchase of equipment .............$40,000

Decrease in current liabilities ........... 5,000

Payment of note payable ............. 30,000

Proceeds from sale of land ........... 60,000

Depreciation Expense .............. 15,000

Prepare Inland Equipment’s cash flow statement for the year ended June 30, 2014 using the indirect method. The cash balance for Inland Equipment, Inc. at June 30, 2013 was $12,000.