Marisol Corporation's income statement for the year ended June 30, 20×9 and its comparative balance sheets for June 30, 20×9 and 20×8 appear on the opposite page.
Marisol Corporation
Income Statement
For the Year Ended June 30, 20x9
Sales.................................... $234,000
Cost of goods sold..................... 156,000
Gross margin........................... $ 78,000
Operating expenses...................... 45,000
Operating income...................... $ 33,000
Interest expense........................... 2,800
Income before income taxes......... $ 30,200
Income taxes expense................... 12,300
Net income............................. $ 17,900

Marisol issued a $22,000 note payable for purchase of furniture; sold furniture that cost $27,000 with accumulated depreciation of $15,300 at carrying value; recorded depreciation on the furniture for the year, $19,300; repaid a note in the amount of $20,000; issued $25,000 of common stock at par value; and paid dividends of $4,300. Prepare Marisol's statement of cash flows for the year 20×9 using the indirect method.

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Marisol Corporation Comparative Balance Sheets June 30, 20x9 and 20x8 20x9 20x8 Assets Cash Accounts receivable (net) Inventory Prepaid expenses Furniture Accumulated depreciation, furniture Total assets $ 69,900 12,500 26,000 48,400 2,600 60,000 (9,000) (5,000) $183,500 $144,500 21,000 43,400 3,200 55,000 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Notes payable (long-term) Common stock, $10 par value Retained earnings Total liabilities and stockholders' equity $ 13,000 14,000 1,800 35,000 90,000 ,300 3100 1,200 37,000 115,000 3,700 $144,500 $183,500