Jobim Inc. had the following condensed balance sheet at the end of operations for 2013.

During 2014, the following occurred.
1. A tract of land was purchased for $9,000.
2. Bonds payable in the amount of $15,000 were redeemed at par.
3. An additional $10,000 in capital stock was issued at par.
4. Dividends totaling $9,375 were paid to stockholders.
5. Net income was $35,250 after allowing depreciation of $13,500.
6. Land was purchased through the issuance of $22,500 in bonds.
7. Jobim Inc. sold part of its investment portfolio for $12,875. This transaction resulted in a gain of $2,000 for the company. The company classifies the investments as available-for-sale.
8. Both current assets (other than cash) and current liabilities remained at the same amount.

Instructions
(a) Prepare a statement of cash flows for 2014 using the indirect method.
(b) Prepare the condensed balance sheet for Jobim Inc. as it would appear at December 31,2014.

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JOBIM INC. BALANCE SHEET DECEMBER 31, 2013 $ 8,500 Cash Current assets other than cash Investments Plant assets (net) Land 15,000 25,500 25,000 75,000 24,500 $165,000 Current iabilities 29,000 Lng-term notes payable 20,000 67,500 40,000 Bonds payable Capital stock Retained earnings $165,000