Balance sheets for Brierwold Corporation follow:

Additional transactions were as follows:
a. Purchased equipment costing $50,000.
b. Sold equipment costing $60,000 with a book value of $25,000 for $40,000.
c. Retired preferred stock at a cost of $110,000 (the premium is debited to retained earnings).
d. Issued 10,000 shares of common stock (par value, $4) for $10 per share.
e. Reported a loss of $15,000 for the year.
f. Purchased land for $50,000.

Required:
Prepare a statement of cash flows by using the indirectmethod.

Plant and equipment Accumulated depreciation $1,335,000 Liabilities and equity $ 300,000 Common stock Contributed capital in excess of par: Common stock Total liabilities and equity $1,300,000 $1,335,000