Here are comparative balance sheets for Christensen Company

Additional information:
Net income for 2011 was $103,000.
Cash dividends of $45,000 were declared and paid.
Bonds payable amounting to $50,000 were redeemed for cash $50,000.
Common stock was issued for $42,000 cash.
No equipment was sold during 2011 but land was sold at cost.
Instruction
Prepare a statement of cash flows for 2011 using the indirect method.

CHRISTENSEN COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventories Land Equipment Accumulated depreciation 2011 73,000 85,000 70,000 75,000 260,000 (66,000) $597,000 2010 22,000 76,000 189,000 100,000 200,000 (32,000) $555,000 Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 39,000 150,000 216,000 192,000 $597,000 $ 47,000 200,000 174,000 134,000 $555,000 Total