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 using the indirect method.

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Beginning Balances Ending Balances Assets Cash Accounts receivable Inventor Plant and equipment Accumulated depreciation Land S 100,000 200 000 400,000 700,000 200,000) 100.000 $1.300.000 S 150,000 180,000 410,000 690,000 (245,000) 150,000 S1.335.000 Total assets Liabilities and equity Accounts pavable Mortgage payable Preferred stock Common stock Paid-in capital in excess of par Retained earnings S 300,000 $ 250,000 110,000 00,000 240,000 360,000 300,000 S1,3000o 280,000 420.000 75 000 $1.335.000 Total liabilities and equity