Financial information for Princeton Company at December 31, 2014, and for the year then ended, are presented below:

Income Statement
Sales revenue $ .......................................$80,000
Cost of goods sold ...............................$(35,000)
Depreciation expense .............................$(5,000)
Bad debt expense ..................................$(1,000)
Insurance expense ..................................$(1,000)
Interest expense .....................................$(2,000)
Salaries and wages expense .................$(12,000)
Income tax expense ...............................$(3,000)
Remaining expenses ............................$(13,000)
Loss on sale of operational assets ..........$(2,000)
Net income $ ...........................................$6,000

Additional information:
1. Wrote off $500 accounts receivable as uncollectible.
2. Sold an operational asset for $4,000 cash (cost, $15,000, accumulated depreciation, $9,000).
3. Issued common stock for $5,000 cash.
4. Declared and paid a cash dividend of $5,000.
5. Purchased land for $20,000 cash.
6. Acquired land for $21,000, and issued common stock as payment in full.
7. Acquired operational assets, cost $16,000; issued a $16,000, three-year, interest-bearing note payable.
8. Paid a $10,000 long-term note installment by issuing common stock to the creditor.
9. Borrowed cash on a long-term note, $20,000.
   
Required:
Prepare the statement of cash flows using the indirectmethod.

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Balance Sheet December 31 2014 2013 Cash Accounts receivable Allowance for doubtful accounts Inventory Prepaid insurance Property, plant, and equipment Accumulated depreciation Land S 31.000 S15,000 S 28.500 S 30.000 S (2,000) S (1,500) S 15,000 S 10,000 2.400 S 81.000 S 80,000 S (16,000) S (20,000) S 81.100 S 40,100 S 220,000 S 156,000 1.400 S Total assets Accounts payable Wages payable Interest payable Notes payable, long-term S 11000 S 10.000 2,000 1,000 S 1,000 S Common stock, no par Retained earnings S 46.000 S 20.000 S 136,000 S 100,000 S 24,000 S 25,000 Total liabilities and stockholders' equity S 220,000 S156,000