Condensed financial data of Minnie Hooper Company are shown below. Prepare a statement of cash flows—indirect method.

Minnie Hooper Company Og)

Comparative Balance Sheets December 31 Assets _ 2014 _2013 Cash $ 93,600 $ 33,400 Accounts receivable 63,200 37,000 Inventory 124,500 102,650 Investments 79,500 107,000 Plant assets 318,000 205,000 Accumulated depreciation (44,000) (40,000)

Total $634,800 $445,050 Liabilities and Stockholders’ Equity Accounts payable $ 56,600 $ 48,280 Accrued expenses payable 15,100 18,830 Bonds payable 140,000 70,000 Common stock 250,000 200,000 Retained earnings 173,100 107,940 Total $634,800 $445,050 Minnie Hooper Company Income Statement For the Year Ended December 31, 2014 Sales revenue $297,500 Less:

Cost of goods sold $99,460 Operating expenses, excluding depreciation expense 19,670 Depreciation expense 25,000 Loss on disposal of plant assets 5,000 Income tax expense 37,270 Interest expense 2,940 189,340 Net income $108,160 Additional information:

1. New plant assets costing $149,000 were purchased for cash during the year.

2. Investments were sold at cost.

3. Plant assets costing $36,000 were sold for $10,000, resulting in a loss of $5,000.

4. Acash dividend of $43,000 was declared and paid during the year.

Instructions Prepare a statement of cash flows using the indirect method. Cash from operations $94,700