12-11A

The comparative balance sheets for Yanik Company as of December 31 are presented below.

YANIK COMPANY Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$68,000	$45,000
Accounts receivable	50,000	58,000
Inventory	151,450	142,000
Prepaid expenses	15,280	21,000
Land	145,000	130,000
Buildings	200,000	200,000
Accumulated depreciationbuildings	(60,000	)	(40,000	)
Equipment	225,000	155,000
Accumulated depreciationequipment	(45,000	)	(35,000	)
Total	$749,730		$676,000
Liabilities and Stockholders Equity
Accounts payable	$44,730	$36,000
Bonds payable	300,000	300,000
Common stock, $1 par	200,000	160,000
Retained earnings	205,000		180,000
Total	$749,730		$676,000

Additional information:

1.	Operating expenses include depreciation expense of $42,000.
2.	Land was sold for cash at book value.
3.	Cash dividends of $12,000were paid.
4.	Net income for 2014 was $37,000.
5.	Equipment was purchased for $92,000cash. In addition, equipment costing $22,000with a book value of $10,000was sold for $8,000cash.
6.	40,000shares of $1 par value common stock were issued in exchange for land with a fair value of $40,000.

Prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)