Prepare a 2009 Statement of Cash Flows for the Boyd Company in good form. The operating activities section may be prepared using either the direct of indirect method.

Additional Information: 

1. Equipment with an original cost of $90,000 and accumulated depreciation of $60,000 was sold for cash.

2. Depreciation, amortization, and bad debt expense are included in operating expenses.

3. Boyd accounts for their investment in XYZ using the equity method. XYZ Company paid no cash dividends during 2009. 

4. A/R totaling $800 were written off during the year.

5. Boyd declared cash dividends during the year. All have been paid by the end of the year.

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Boyd Company Income Statement - For the year ended 12/31/09 $1,200,000 ( 690,000) $ 510,000 ( 375,000) S 135,000 Sales Cost of Goods Sold Gross Margin Operating Expenses Income from Operations Other Revenue & Expense: Investment Revenue 25,000 Loss on sale of equipment 8,000) 4,000) S 148,000 ( 52,000) S 96,000 Interest Expense Income before Tax Income Tax Net Income