The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2010 and 2009, is as follows:

The income statement for the year ended December 31, 2010, is as follows:

The following additional information was taken from the records:
a. The investments were sold for $140,000 cash.
b. Equipment and land were acquired for cash.
c. There were no disposals of equipment during the year.
d. The common stock was issued for cash.
e. There was a $48,000 debit to Retained Earnings for cash dividends declared.
Instructions
Prepare a statement of cash flows, using the direct method of presenting cash flows from operatingactivities.

Dec. 31, 2010 Dec. 31, 2009 Assets $ 312,880 $ 292,960 Cash Accounts receivable (net) 113,920 104,480 308,560 120,000 Inventories. 320,880 Investments Land Equipment Accumulated depreciation-equipment 164,000 352,560 (83,200) $1,181,040 276,560 (74,000) $1,028,560 Liabilities and Stockholders' Equity $ 214,240 21,120 12,000 64,000 240,000 629,680 $ 202,480 26,320 9,600 48,000 140,000 602,160 Accounts payable (merchandise creditors).. Accrued expenses payable (operating expenses) Dividends payable.. Common stock, $10 par. Paid-in capital in excess of par-common stock. Retained earnings . $1,181,040 $1,028,560