The three accounts shown below appear in the general ledger of Lauber Corp. during 2014.

Instructions
From the postings in the accounts, indicate how the information is reported on a statement of cash flows using the indirect method. The loss on disposal of plant assets was$8,000.

Equipment Date Debit Credit Jan. 1 July 31 Sept. 2 Nov. 10 Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold Balance 160,000 230,000 283,000 234,000 70,000 53,000 49,000 Accumulated Depreciation-Equipment Date Debit Credit Balance 71,000 Jan. Balance Nov. 10 Accumulated depreciation on equipment sold Depreciation for year 55,000 83,000 16,000 Dec. 31 28,000 Retained Earnings Date Debit Credit Jan. 1 Aug. 23 Dec. 31 Balance 105,000 91,000 163,000 Balance Dividends (cash) Net income 14,000 72,000