Statements of financial position for Janxen Jeans Company for 2011 and 2010 follow:
JANXEN JEANS COMPANY
Comparative Statement of Financial Position

Additional information:
1. Net earnings during 2011 were $145,000.
2. An old machine that cost $70,000 was sold for $4,000 less than its $20,000 book value (cost minus accumulated depreciation).
3. Depreciation expense was $95,000.
4. There were no repayments of long-term debt in 2011.
5. Dividends declared and paid during the year were $43,000.
Required:
Prepare a statement of cash flows for the year ended December 31, 2011.

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Dec. 31, 2011 Dec. 31, 2010 Assets Current assets Cash Accounts receivable Notes receivable Inventories Total current assets $ 180,000 120,000 50,000 439,000 89,000 S 178,000 133,000 71,000 326,000 708,000 Non current assets Land Machinery Accumulated depreciation Total non current assets 545,000 483.000 143,000) 885,000 500,000 238,000 98,000) 640,000 $1,674,000 1,348,000 Total assets Liabilities Current liabilities Accounts payah Interest payable Total current iabilities S 125,000 17,000 142,000 350,000 492,000 $ 158,000 10,000 168,000 200,000 368,000 Long-term debt Total liabilities Shareholders' equity 550,000 430,000 980,000 S1,348,000 Share capital Retained earnings 650,000 532,000 1, 182,000 $1,674,000 Total shareholders equity Total liabilities and shareholders equity