The comparative balance sheets for Strackman Lux Company as of December 31 are presented below.

Additional information:
1. Operating expenses include depreciation expense of $40,000.
2. Land was sold for cash at book value of $20,000.
3. Cash dividends of $25,000 were paid.
4. Net income for 2014 was $45,000.
5. Equipment was purchased for $95,000 cash. In addition, equipment costing $22,000 with a book value of $12,000 was sold for $6,000 cash.
6. Issued 35,000 shares of $1 par value common stock in exchange for land with a fair value of $35,000.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirectmethod.

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Strackman Lux Company Comparative Balance Sheets December 31 2014 59,520 44,000 154,550 15,280 145,000 228,000 (45,000) 200,000 2013 Assets Cash Accou Inventory Prepaid expenses Land Equipment Accumulated depreciation-equipment Buildings 45,000 62,000 142,000 21,000 130,000 155,000 (35,000) 200,000 Accumulated depreciation buildings 60,000) (40,000) $680,000 nts receivable Total $741,350 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings 300,000 195,000 200,000 $741,350 46,350 40,000 300,000 160,000 180,000 $680,000 Total