The post-closing trial balances are provided for the Dallas Department Store. Credit balances are denoted with parentheses.

The following additional information was obtained from Dallas Department Store's accounting records.
1. All accounts receivable were from sales to customers.
2. The inventor}' and accounts payable were for merchandise purchased for resale.
3. The prepaid expenses and accrued liabilities were for operating expenses.
4. During the year, plant assets were purchased by paying \($180,000\) cash and signing a \($24,000\) mortgage.
5. Plant assets with a cost of \($60,000\) and accumulated depreciation of \($24,000\) were sold for \($48,000\) cash.
6. Depreciation expense for the year was included in operating expenses.
7. Common stock was sold for \($36,000\) cash.
8. Cash dividends of \($12,000\) were paid during the year.
Instructions: Using T-accounts, prepare a statement of cash flows for Dallas Department Store for the year ended December 31, 2002, using the indirect method.

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Dec. 31, 2002 Dec. 31, 2001 Cash and Cash Equivalents Accounts Receivable $ 28,800 24,000 $ 12,000 36,000 Inventory 144,000 96,000 Prepaid Expenses 7,200 6,000 Plant Assets 624,000 480,000 Accumulated Depreciation-Plant Assets (122,400) (48,000) Accounts Payable. (30,000) (24,000) Accrued Liabilities (12,000) (9,600) Mortgage Payable Bands Payable Common Stock Capital in Excess of Par Retained Earnings Total (84,000) (60,000) (240,000) (240,000) (210,000) (180,000) (36,000) (30,000) (93,600) (38,400) 0 $