Damocles Company manufactures fine swords. Below are listed the net changes in the company€™s balance sheet accounts for the past year:

The following additional information is available about last year€™s activities:
a. Net income for the year was $ ?.
b. The company sold equipment during the year for $35,000. The equipment originally cost the company $160,000, and it had $145,000 in accumulated depreciation at the time of sale.
c. The company declared and paid $10,000 in cash dividends during the year.
d. Depreciation charges for the year were $ ?.
e. The opening and closing balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:

f. There were no stock conversions (i.e., one class of stock converted to another class) during the year.
g. The balance in the Cash account at the beginning of the year was $109,000; the balance at the end of the year was $ ? .
h. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change.
Required:
Using the indirect method, prepare a statement of cash flows for theyear.

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Credits S 51,000 $63,000 4,000 Prepaid Expenses Long-Term Loans to Subsidiaries Long-Term Investments Plant and Equipment . . 80,000 90,000 . . 340,000 65,000 48,000 Accounts Payable Accrued Liabilities .. Bonds Payable Deferred Income Taxes Preferred Stock Common Stock Retained Earnings 5,000 200,000 9,000 180,000 300,000 75,000 $840,000 $840,000 Opening Ciosing Plant and Equipment... Accumuiated Depreciation. $2,850,000 $3,190,000 $975,000 $1.040,000