Keeper Corporation€™s income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow.
Keeper Corporation
Income Statement
For the Year Ended June 30, 2014
Sales ................... $234,000
Cost of goods sold .............. 156,000
Gross margin ............... $ 78,000
Operating expenses .............. 45,000
Operating income ............. $ 33,000
Interest expense .............. 2,800
Income before income taxes..........$ 30,200
Income taxes expense ............ 12,300
Net income ................ $ 17,900

Keeper issued a $22,000 note payable for purchase of furniture; sold at carrying value furniture that cost $27,000 with accumulated depreciation of $15,300; recorded depreciation on the furniture for the year, $19,300; repaid a note in the amount of $20,000; issued $25,000 of common stock at par value; and paid dividends of $4,300.
Prepare Keeper€™s statement of cash flows for the year 2014 using the indirectmethod.

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Keeper Corporation Income Statement For the Year Ended June 30, 2014 Sales Cost of goods sold Gross margin Operating expenses Operating income Interest expense Income before income taxes Income taxes expense Net income $234,000 156,000 78,000 45,000 33,000 2,800 30,200 12,300 17,900 Keeper Corporation Comparative Balance Sheets June 30, 2014 and 2013 2014 2013 Assets Cash Accounts receivable (net) Inventory Prepaid expenses Furniture Accumulated depreciation Total assets S 69,900 21,000 43,400 3,200 55,000 (9,000) $183,500 12,500 26,000 48,400 2,600 60,000 (5,000) $144,500 furniture Liabilities and Stockholders' Equity Accounts payable Income taxes payable Notes payable (long-term) Common stock, $10 par value Retained eanings Total liabilities and stockholders' equity 13,000 1,200 37,000 115,000 17,300 $183,500 14,000 1,800 35,000 90,000 3,700 144,500