Condensed financial data of Odgers Inc. follow.

Additional information:
1. New plant assets costing $100,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $26,030 was declared and paid during the year.

Instructions
Prepare a statement of cash flows using the indirectmethod.

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ODGERS INC. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 2014 2013 80,800 87,800 112,500 28,400 138,000 285,000 (50,000) S682,500 48,400 38,000 102,850 26,000 109,000 242,500 (52,000) $514,750 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total 102,000 16,500 110,000 220,000 234,000 682,500 67,300 21,000 146,000 175,000 105,450 $514,750 ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 $388,460 Sales revenue Less: Cost of goods sold Operating expenses, excluding $135,460 depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets 12,410 46,500 27,280 4,730 7,500 233,880 $154,580 Net income