Comparative balance sheet data for the Amber Company are presented below and on the following page. In addition, new equipment was purchased for \($50,000,\) payment consisting of \($25,000\) cash and a long-term note for \($25,000.\) Proceeds from the shortterm notes payable were used for operating purposes. Cash dividends of \($10,000\) were paid in 2002; all other changes to retained earnings were caused by the net income for 2002, which amounted to \($83,500\).

Instructions: 

Prepare a statement of cash flows for the year ended December 31, 2002, using the indirect method.

Cash and cash equivalents Accounts receivable Inventory...... Property, plant, and equipment. Accumulated depreciation-property, plant, and equipment. Total assets Dec. 31, 2002 Dec. 31, 2001 $ 41,000 $ 28,000 94,000 110,000 86,000 100,000 550,000 500,000 (277,500) (250,000) $517,500 $464,000