The statement of cash flows for the year ended December 31, 2014, and other data for Bradley Corporation are shown below:

Additional data:
a. Bradley€™s Dividends receivable account decreased by $2,000 during the year.
b. The Machinery account, net of accumulated depreciation, increased by $100,000 during the year. The only other transaction, exclusive of depreciation, was the write-off on May 15, 2014, of obsolete machinery that had a book value of $8,000.
c. Accounts receivable increased by $40,000 during 2014. The Allowance account increased by $4,000. There were no write-offs of uncollectible accounts.
d. Salaries payable at the beginning of the year were $6,000; at the end of the year, $10,000.
e. Inventories decreased $12,000 during 2014.
f. Taxes payable increased $6,000 during the year.
g. The investments that were sold had a book value of $30,000.

Required:
On the basis of the above data, prepare Bradley Corporation€™s single-step income statement for the year ended December 31,2014.

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Cash flows from operating activities: 375,000 Cash collections from customers Dividends received Cash outflows for: 10,000 Merchandise (120,000) (55,000) (25,000) (25,000) Other operating expenses Net cash provided by operating activities 160,000 Cash flows from investing activities: Sales of investments Purchased machinery 40.000 150,000) Net cash used by investing activities (110,000) Cash flows from financing activities: Issue of capital stock 50,000 100,000 Net increase in cash