Problem #$2$ Prepare a Statement of Cash Flows by Using Indirect Method

A comparative balance sheet for Rocker Company appears below:

ROCKER COMPANY

Comparative Balance Sheet

Dec. $31,2024$

Dec. $31,2023$

Assets

Cash

Accounts receivable

Inventory

Prepaid expenses

Long$-$term investments

Equipment $60,00o+32,000$

Accum depreciation$-$equipment

Total assets

Liabilities and Stockholders' Equity

Accounts payable

Bonds payable

Common stock

Retained earnings

Total liabilities and stockholders' equity

Additional information:

Net income for the year ending December $31,2024$ was $$87,000.$

Cash dividends of $$17,500$ were declared and paid during the year.

Long$-$term investments that had a cost of $$17,000$ were sold for $$14,000.$

Sales for $2024$ were $$127,000.$

Instructions Prepare the operating cash activity section of a statement of cash flows for the year

ended December $31,2024,$ using the indirect method.

Bonus, Prepare a complete statement of cash flow.