Based on the following information, determine the net increase (decrease) in cash for Luther Corp. for the year ended December 31, 2012. Use the direct method to report cash flows from operating activities.
Cash received from interest revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 25,000
Cash paid for dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000
Cash collected from customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000
Cash paid for wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550,000
Depreciation expense for the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,000
Cash received from issuance of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350,000
Cash paid for retirement of bonds at par. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,000
Cash received on sale of equipment at book value . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000
Cash paid for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 210,000