Ochoa Inc., had the following condensed balance sheet at the end of operations for 2011.

                

During 2012, the following occurred.
  1. A tract of land was purchased for $11,000.
  2. Bonds payable in the amount of $20,000 were retired at par.
  3. An additional $10,000 in common stock was issued at par.
  4. Dividends totaling $9,375 were paid to stockholders.
  5. Net income was $30,250 after deducting depreciation of $13,500.
  6. Land was purchased through the issuance of $22,500 in bonds.
  7. Ochoa Inc. sold part of its investment portfolio for $12,875. This transaction resulted in a gain of $2,000 for the company. The company classifies the investments as available-for-sale.
  8. Both current assets (other than cash) and current liabilities remained at the same amount.

Instructions
  (a) Prepare a statement of cash flows for 2012 using the indirect method.
  (b) Prepare the condensed balance sheet for Ochoa Inc. as it would appear at December 31, 2012.