The income statement, balance sheet, and additional information for Great Adventures, Inc., are provided below.

Additional Information for 2014:
1. Borrowed $500,000 in January 2014. Made 12 monthly payments during the year, reducing the balance of the loan by $37,638.
2. Issued common stock for $1.2 million.
3. Purchased 10,000 shares of treasury stock for $15 per share.
4. Reissued 5,000 shares of treasury stock at $16 per share.
5. Declared and paid a cash dividend of $115,000.
Required:
Prepare the statement of cash flows for the year ended December 31, 2014, using the indirect method.

GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2014 Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $543,000 Total revenues $661,000 70,000 304,276 50,000 29,724 57,000 Cost of goods sold (watches) Interest expense Income tax expense Total expenses 511,000 $150,000 Net income GREAT ADVENTURES, INC. Balance Sheet December 31, 2014 and 2013 Increase (l) or Decrease(D) 2013 -2014 2013 Current assets: S 322,362 $138,000 $ 184,362 () 10,000 (1) 3,000 (0) 2,000 () 45,000 35,000 17,000 13,000 11,000 Accounts receivable 14,000 Other current assets Long-term assets: $500,000 $ 0 $500,000 (1) 0 1,000,000 () 1,000,000 65,000 65,000 Accumulated depreciation 50,000 () Total assets $1,887,112 $237,750 Liabilities and Stockholders'E Current liabilities: Accounts payable Interest payable Income tax payable S 12,000 S 9,000 3,000 () 750 57,000 38,000 19,000 () Notes payable 492,362 30,000 462,362 ( Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock 20,000 20,000 0 75,000 140,000 100,000 () 1,105,000 () 35,000 () (75,000) (0) 1,105,000 Total liabilities and stockholders' equity 1,887112 $237750