Prepare a statement of cash flows using the indirect method. Brecker Inc., a greeting card company, had the following statements pre- pared as of December 31, 2014. BRECKER INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 Cash Accounts receivable Short-term investments (available-for-sale) Inventory Prepaid rent Equipment Accumulated depreciationequipment Copyrights Total assets Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable Common stock, $10 par Contributed capital, common stock Retained earnings Total liabilities and stockholders equity 12/31/14 $ 6,000 62,000 35,000 40,000 5,000 154,000 (35,000) 46,000 $313,000 $ 46,000 4,000 8,000 8,000 60,000 100,000 30,000 57,000 $313,000 12/31/13 $ 7,000 51,000 18,000 60,000 4,000 130,000 (25,000) 50,000 $295,000 $ 40,000 6,000 4,000 10,000 69,000 100,000 30,000 36,000 $295,000 BRECKER INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2014 Sales revenue Cost of goods sold Gross pro t Operating expenses Operating income Interest expense Gain on sale of equipment Income before tax Income tax expense Net income $11,400 2,000 $338,150 175,000 163,150 120,000 43,150 9,400 33,750 6,750 $ 27,000

Prepare a statement of cash flows using the indirect method.