Erie Company reported the following comparative balance sheets:

Additional information:
1. Net income for 2011 was $20,500.
2. Cash dividends of $7,900 were declared and paid during 2011.
3. Long-term investments with a cost of $28,600 were sold for cash at a gain of $4,100. Additional long-term investments were purchased for $14,400 cash.
4. Equipment with a cost of $14,800 and accumulated depreciation of $13,500 was sold for $3,800 cash. New equipment was purchased for $27,350 cash.
5. Depreciation expense was $18,900.
6. A principal payment of $25,000 was made on long-term notes.
7. Common stock was sold for $31,500 cash.

Required:
Prepare a statement of cash flows for Erie, using the indirect method to compute net cash flow from operating activities.

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2011 2010 Assets: Cash Accounts receivable Inventory Prepaid rent Investments flong-term) Property, plant, and equipment Accumulated depreciation 33,200 53,000 29,500 2,200 17,600 162,000 (61,600 $235,900 12,750 44,800 27,500 6,200 31,800 149 450 56,200 Total assets 5216,300 Liabilifies and Equity. Accounts payable Interest payable Wages payoble Income taxes payable Notes payable Common stock Relained earnings 16,900 3,500 9,600 5,500 28,000 100,000 72,400 $235,900 s 19,500 4,800 7,100 3,600 53,000 68,500 59,800 $216,300 Totol liabiliies and equity