The following are data taken from the records of Durand SpA.

Additional information:

1. Held-for-collection investments carried at a cost of €43,000 on December 31, 2021, were sold in 2022 for €34,000. The loss was incorrectly charged directly to Retained Earnings.

2. Plant assets that cost €60,000 and were 80% depreciated were sold during 2022 for €8,000. The loss was incorrectly charged directly to Retained Earnings.

3. Net income as reported on the income statement for the year was €59,000.

4. Dividends paid amounted to €10,000.

5. Depreciation recorded for the year was €28,000.

Instructions

Prepare a statement of cash flows for the year 2022 using the indirect method.

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December 31, December 31, Debit Balances 2022 2021 Cash € 15,000 € 10,000 Current assets other than cash 85,000 58,000 Long-term investments 10,000 53,000 Plant assets 335,000 215,000 €445,000 €336,000 Credit Balances Accumulated depreciation € 20,000 € 40,000 Current liabilities 40,000 22,000 Bonds payable 75,000 -0- Share capital-ordinary 254,000 254,000 Retained earmings 56,000 20,000 €445,000 €336,000