Meera Corporation€™s comparative balance sheets are presented below.

Additional information:
1. Net income was $22,630. Dividends declared and paid were $19,500.
2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $5,000.
Instructions
(a) Prepare a statement of cash flows for 2014 using the indirect method.
(b) Compute free cashflow.

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Meera Corporation Comparative Balance Sheets December 31 2014 2013 Cash Accounts receivable Land Buildings Accumulated depreciation buildings 14,700 20,800 20,000 70,000 (15,000) $110.500 10,700 23,400 26,000 70,000 (10,000) $120,100 Total Accounts pavable Common stock Retained earnings $12,370 75,000 23,130 $110,500 $28,100 72,000 20,000 $120,100 Total