Sharp Company Comparative Balance Sheet:

December 31, 2015 & December 31, 2014

Cash 54,000 36,000

Accounts Receivable, net 53,000 57,000

Inventory 161,000 123,000

Land 180,000 285,000

Building 300,000 300,000

Accumulated Depreciation - building (75,000) (60,000)

Equipment 1,565,000 900,000

Accumulated Depreciation - equipment (177,000) (141,000)

Totals 2,061,000 1,500,000

Accounts Payable 202,000 150,000

Bonds Payable 450,000 0

Capital Stock, $10 par 1,250,000 1,250,000

Retained Earnings 159,000 100,000

Totals 2,061,000 1,500,000

Additional Data:

1. Net income for the year amounted to $109,000.

2. Cash dividends were paid amounting to 4% of par value.

3. Land was sold for $120,000.

4. Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $115,000.

Instructions: Prepare a statement of cash flows using the indirect method.