Kate Petusky prepared Addison Controls' balance sheet and income statement for 2013.

Before she could complete the statement of cash flows, she had to leave town to attend to a family emergency. Because the full set of statements must be provided to the auditors today, Addison's president, Lance Meyers, has asked you to prepare the statement of cash flows. Meyers has provided you with the balance sheet and income statement that Petusky prepared, as well as some notes she made:

Equipment with an original cost of $35,000 was sold for $20,300. The book value of the equipment was $19,400.
• On June 1, 2013, the company purchased new equipment for cash at a cost of $17,500.
• At the end of the year, the company issued bonds payable for $10,000 cash. The bonds will mature on December 31, 2017.
• The company paid $23,200 in cash dividends for the year.

Required
Using the direct method, prepare Addison Control's statement of cash flows for2013.

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Addison Controls Income Statement For the Year Ended December 31, 2013 $127,900 69,800 58,100 Sales revenue Cost of goods sold Gross margin Selling expense Administrative expense Salaries expense Depreciation expense Interest expense Income before gain and taxes Gain on sale of land Income tax expense 13,000 8,000 20,000 1,900 4,000 46,900 11,200 800 S11,300 Net income Addison Controls Comparative Balance Sheets As of December 31 2013 2012 $ 5,100 6,300 31,700 43,100 211,500 $254,600 $ 4,300 5,500 34,200 44,000 215,300 $259,300 Cash Accounts receivable, net Inventory Total current assets Property, plant, & equipment, net Total assets $ 3,400 600 1,800 2,100 60,000 67,900 125,000 61,700 186,700 $254,600 Accounts payable Accrued expenses Salaries payable Taxes payable Note payable $ 5,900 700 1,500 2,600 50,000 60,700 125,000 73,600 198,600 $259,300 Total liabilities mon stock Retained earnings Total stockholders' equity Total liabilities & stockholders' equity