Presented below are data taken from the records of Morganstern Company.

Additional information:1. Held-to-maturity securities carried at a cost of $43,000 on December 31, 2011, were sold in 2012 for $34,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings.2. Plant assets that cost $60,000 and were 80% depreciated were sold during 2012 for $8,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings.3. Net income as reported on the income statement for the year was $59,000.4. Dividends paid amounted to $10,000.5. Depreciation charged for the year was $28,000.InstructionsPrepare a statement of cash flows for the year 2012 using the indirectmethod.

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December 31, December 31, 2012 2011 $ 15,000 $ 10,000 58,000 53,000 215,000 Cash Current assets other than cash 85,000 10,000 335,000 Long-term investments Plant assets $445,000 $336,000 $ 20,000 40,000 75,000 254,000 $ 40,000 22,000 -0- Accumulated depreciation Current liabilities Bonds payable Common stock Retained earnings 254,000 20,000 $336,000 56,000 $445,000