Ryan Inc. had the following condensed balance sheet at the end of operations for 2013.

During 2014 the following occurred.
1. Land was purchased for $29,000.
2. Notes payable in the amount of $45,500 were paid.
3. An additional $10,000 in capital stock was issued for $23,500.
4. Dividends totaling $12,500 were paid to stockholders.
5. Net income was $49,600 after allowing depreciation of $21,800.
6. Plant assets were purchased through the issuance of $50,000 in bonds.
7. Both current assets (other than cash) and current liabilities remained at the same amount.

Instructions
(a) Prepare a statement of cash flows for 2014 using the indirect method.
(b) Prepare the condensed balance sheet for Ryan Inc. as it would appear at December 31,2014.

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RYAN INC. BALANCE SHEET DECEMBER 31, 2013 Cash Current assets other than cash Investments Plant assets (net) Land $ 23,700 143,900 50,000 119,500 25,000 $362,100 Current liabilities Notes payable Preferred stock Capital stock Retained earnings 87,600 45,500 60,000 120,000 49,000 $362,100