Here are comparative balance sheets for Syal Company.

Additional information:
1. Net income for 2014 was $103,000.
2. Depreciation expense was $32,000.
3. Cash dividends of $45,000 were declared and paid.
4. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
5. Common stock was issued for $42,000 cash.
6. No equipment was sold during 2014.
7. Land was sold for its book value of $27,000.
Instructions
Prepare a statement of cash flows for 2014 using the indirectmethod.

Syal Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment 2014 73,000 85,000 170,000 73,000 260,000 (66,000) 2013 33,000 71,000 187,000 100,000 200,000 (34,000) $557,000 Total $595,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 35,000 150,000 216,000 194,000 $595,000 47,000 200,000 174,000 136,000 $557,000 Total