The income statement and additional data of Rayborn Services, Inc., follow: 

Additional data follows:

a. Collections from customers are \($15,000\) more than sales.

b. Payments to suppliers are the sum of cost of goods sold plus adver¬ tising expense.

c. Payments to employees are \($7,000\) more than salary expense.

d. Dividend revenue, interest expense, and income tax expense equal their cash amounts.

e. Acquisition of plant assets for cash is \($101,000\).

f. Proceeds from sale of land total \($22,000\).
g. Proceeds from issuance of common stock for cash total \($34,000\).
h. Payment of long-term note payable is \($15,000\).

i. Payment of dividends is \($14,000\).
j. Cash balance, April 30, 2009, was \($21,000\).
Requirement

1. Prepare Rayborn Services’ statement of cash flows for the year ended April 30, 2010. Use the direct method.

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Revenues: Rayborn Services, Inc. Income Statement Year Ended April 30, 2010 Sales Revenue $262,000 Dividend Revenue 11,000 Total Revenues $273,000 Expenses: Cost of Goods Sold $107,000 Salary Expense 60,000 Depreciation Expense 18,000 Advertising Expense 14,000 Interest Expense 9,000 Income Tax Expense 8,000 Total Expenses Net Income 216,000 $ 57,000