The following information was obtained from analysis of selected accounts of Orlando Company for the year ended December 31, 2002.

Instructions: From the information given, prepare a statement of cash flows using the indirect method.

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Increase in long-term debt.. Purchase of treasury stock. Depreciation and amortization Gain on sale of equipment (included in net income).. Proceeds from issuance of common stock... Purchase of equipment. Proceeds from sale of equipment Payment of dividends.. Net income Increase (decrease) in working capital accounts: Cash.. Accounts receivable Inventories. Trade notes payable... Accounts payable.. Income taxes payable. Cash balance, January 1, 2002. $ 57,000 52,000 197,000 6,000 184,000 434,000 20,000 49,000 375,000 45,000 229,000 275,000 167,000 124,000 (34,000) 120,000