Based on an analysis of the cash account and other accounts, the following information was provided by the controller of Lumbercamp, Inc., a manufacturer of wood-burning stoves, for the year 2002.

(a) Cash sales for the year were \($150,000;\) sales on account totaled \($180,000\).

(b) Cost of goods sold was 50% of total sales.

(c) All inventory is purchased on account.

(d) Depreciation on equipment was \($93,000\) for the year.

(e) Amortization of goodwill was \($6,000\).

(f) Collection of accounts receivable was \($114,000\).

(g) Payments on accounts payable for inventory equaled \($117,000\).

(h) Rent expense paid in cash was \($33,000\).

(i) 60,000 shares of \($10\) par stock were issued for \($720,000\).

(j) Land was acquired by issuance of a \($300,000\) bond that sold for \($318,000\).

(k) Equipment was purchased for cash at a cost of \($252,000\).

(I) Dividends of \($138,000\) were declared.

(m) \($45,000\) of dividends that had been declared the previous year were paid.

(n) A machine used on the assembly line was sold for \($36,000.\) The machine had a book value of \($21,000\).

(o) Another machine with a book value of \($1,500\) was scrapped and was reported as an ordinary loss. No cash was received on this transaction,

(p) The cash account had a balance of \($87,000\) on Januarys 1, 2002.

Instructions: 

Use the direct method to prepare a statement of cash flows for Lumbercamp, Inc., for the year ended December 31, 2002.