The comparative balance sheet of True-Tread Flooring Co. for June 30, 2006 and 2005, is as follows:

The following additional information was taken from the records of True-Tread Flooring Co.:
a. Equipment and land were acquired for cash.
b. There were no disposals of equipment during the year.
c. The investments were sold for $41,000 cash.
d. The common stock was issued for cash.
e. There was a $46,100 credit to Retained Earnings for net income.
f. There was a $48,000 debit to Retained Earnings for cash dividends declared.

Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operatingactivities.

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June 30, 2006 June 30, 2005 Assets 53,700 85,400 132,700 45,000 Accounts receivable (net).. Inventories .. 89,200 145,800 0 105,500 210,800 (52,800) $567,400 .. 185,600 (45,100) $457,300 Liabilities and Stockholders Equity 15,200 12,000 55,000 200,000 180,900 $567,400 $100,200 14,300 10,000 50,000 100,000 182,800 $457,300 Common stock, $11 par . Paid-in capita in excess of par common stock . . .. .