(SCF—Indirect Method) Presented below are data taken from the records of Antonio Brasileiro Company.

Additional information: 1. Held-to-maturity securities carried at a cost of $43,000 on December 31, 2007, were sold in 2008 for $34,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $50,000 and were 80% depreciated were sold during 2008 for $8,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the income statement for the year was $57,000. 4. Dividends paid amounted to $10,000. 5. Depreciation charged for the year was $20,000. Instructions Prepare a statement of cash flows for the year 2008 using the indirect method.

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Cash Current assets other than cash Long-term investments Plant assets December 31, 2008 $ 15,000 85,000 10,000 335,000 $445,000 40,000 75,000 254,000 December 31, 2007 $ 8,000 60,000 53,000 215,000 $336,000 $ 40,000 22,000 -0- 254,000 Accumulated depreciation $ 20,000 Current liabilities Bonds payable Capital stock Retained earnings 56,000 $445,000 20,000 $336,000