The comparative balance sheets of Connecticut Inc. at the beginning and the end of the year 2012 appear on the next page.

Net income of $34,000 was reported, and dividends of $13,000 were paid in 2012. New equipment was purchased and none was sold.InstructionsPrepare a statement of cash flows for the year2012.

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CONNECTICUT INC. BALANCE SHEETS Dec. 31, 2012 $ 45,000 91,000 39,000 Assets Jan. 1. 2012 Inc./Dec. $ 13,000 Cash $32,000 Inc. 3,000 Inc. 17,000 Inc. 6,000 Inc. Accounts receivable 88,000 22,000 Equipment Less: Accumulated depreciation-equipment (17.000) $158,000 (11.000) $112.000 Total Liabilities and Stockholders' Equity $ 20,000 $ 15,000 Accounts payable 5,000 Inc. Common stock 100,000 80,000 20,000 Inc. Retained earnings 38,000 17,000 21,000 Inc. $158,000 $112,000 Total