Financial statement data for Metro Moving Company for 2011 follow:
METRO MOVING COMPANY
Comparative Statement of Financial Position

METRO MOVING COMPANY
Statement of Earnings
For the year ended December 31, 2011

Additional information:
1. Vehicles that cost $65,000 and had a net book value of $10,000 were sold for $14,000.
2. New vehicles were purchased for cash.
3. A cash payment was made to reduce the bank loan.
4. Dividends of $29,000 were declared and paid during the year.
Required:
Prepare a statement of cash flows for Metro Moving Company for the year ended December 31, 2011.

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Dec. 31, 2011 Dec. 31, 2010 Assets Cash Accounts receivable Prepaid insurance S 68,600 95,000 30,000 193,600 400,000 (110,400) 289,600 $483,200 S 49,100 59,400 20.000 128,500 345,000 (105,900) 239,100 S367.600 Total current assets Property, equipment, and vehicles Accumulated depreciation Total non-current assets Total assets Liabilities and shareholders' equity S 18,600 4,000 22,600 60,000 82,600 200,000 85,000 285,000 S367,600 Accounts payable Wages payable S 21,500 3,000 24,500 50,000 74.500 200,000 208,700 408,700 $483.200 Total current liabilities Bank loan Total liabilities Share capital Retained earnings Total shareholders equity Toal liabilities and shareholders' equity Moving revenue Gain on sale of vehicles $450,000 4,000 454.000 Expenses Vehicle maintenance Wages expense Depreciation expense Interest expense $102,400 134,000 59,500 5.400 Total expenses 301300 $152,700 Net earnings