Statement of Cash flows indrect method The comparative balance sheet of Flack Inc for December 31st, 2013 and 2012 is shown as follows:

Assets:

Dec 31st, 2013 Dec 2012

Cash $234,660 $219,720

Accounts receivables 85,440 78,360

Inventories 240,660 231,420

Investements 0 90,000

Land 123,000 0

Equipment 264,420 207.420

Accumulated Depreciation-Equipment (62,400) (55,500)

885,780 771,420

Liabilities and stockholders Equity

Accounts payable (merchandise Creditor) 159,180 151,860

Accrued expensies payable (operations expenses) 15,840 19,740

dividends payable 9,000 7,200

Common stock $1par 48,000 36,000

Paid in capital excess of par -common stock 180,000 105,000

Relationship earnings 885.780 451,620

The following additional information was taken from the records

the investements wer sold for $105,000 cash

equpipment and land were acquired for cash

there was no dispolals of equpipment during the year

common stock was issued for cash

there was a $58,140 credot tp retained earnings for net income

there was a $36 debit to retained earnings for cash dividends declared.

prepare a statement of cash flows using the indrect method of presenting cash flows from operating activities