The balance sheet of Poodle Company at the end of 2013 is presented here, along with certain other information for 2014:
                                                                                        December 31, 2013
                                                                                            Cash $ 155,000
Accounts receivable...........................................................140,000
Total current assets .......................................................$ 295,000
Land .................................................................................$ 100,000
Plant and equipment ........................................................700,000
Accumulated depreciation .............................................(175,000)
Investments .......................................................................125,000
Total long-term assets ...................................................$ 750,000
Total assets ...................................................................$1,045,000
Current liabilities ............................................................$ 325,000
Bonds payable ................................................................$ 100,000
Common stock ................................................................$ 500,000
Retained earnings ..............................................................120,000
Total stockholders’ equity ..............................................$ 620,000
Total liabilities and stockholders’ equity ....................$1,045,000

Other information is as follows:
a. Net income for 2014 was $50,000.
b. Included in operating expenses was $25,000 in depreciation.
c. Cash dividends of $40,000 were declared and paid.
d. An additional $50,000 of common stock was issued for cash.
e. Bonds payable of $100,000 were purchased for cash and retired at no gain or loss.
f. Cash purchases of plant and equipment during the year were $60,000.
g. An additional $200,000 of land was acquired in exchange for a long-term note payable.
h. During the year, sales exceeded cash collections on account by $15,000. All sales are on account.
i. The amount of current liabilities decreased by $20,000 during the year.

Required
1. Prepare a statement of cash flows for 2014 using the indirect method in the Operating Activities section. Include a supplemental schedule for noncash activities.
2. Prepare a balance sheet at December 31, 2014.
3. What primary uses did Poodle make of the cash it generated from operating activities?