3

Condensed financial data of Odgers Inc. follow.

ODGERS INC. Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$99,384	$59,532
Accounts receivable	107,994	46,740
Inventory	138,375	126,506
Prepaid expenses	34,932	31,980
Long-term investments	169,740	134,070
Plant assets	350,550	298,275
Accumulated depreciation	(61,500	)	(63,960	)
Total	$839,475		$633,143
Liabilities and Stockholders Equity
Accounts payable	$125,460	$82,779
Accrued expenses payable	20,295	25,830
Bonds payable	135,300	179,580
Common stock	270,600	215,250
Retained earnings	287,820		129,704
Total	$839,475		$633,143

ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue	$477,806
Less:
Cost of goods sold	$166,616
Operating expenses, excluding depreciation	15,264
Depreciation expense	57,195
Income tax expense	33,554
Interest expense	5,818
Loss on disposal of plant assets	9,225	287,672
Net income	$190,134

Additional information:

1.	New plant assets costing $123,000were purchased for cash during the year.
2.	Old plant assets having an original cost of $70,725and accumulated depreciation of $59,655were sold for $1,845cash.
3.	Bonds payable matured and were paid off at face value for cash.
4.	A cash dividend of $32,018was declared and paid during the year.

Prepare a statement of cash flows 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).)

ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Sale of Plant AssetsPurchase of InvestmentsPayment of Cash DividendsDecrease in InventoryDecrease in Accounts PayablePurchase of Plant AssetsRedemption of BondsDecrease in Accrued Expenses PayableDepreciation ExpenseSale of Common StockNet IncomeIncrease in Accounts PayableLoss on Disposal of Plant AssetsIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesDecrease in Prepaid ExpensesIncrease in InventoryIncrease in Accounts ReceivableDecrease in Accounts Receivable	$
Adjustments to reconcile net income to
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Depreciation ExpensePayment of Cash DividendsIncrease in Accounts PayableIncrease in InventoryIncrease in Prepaid ExpensesDecrease in Prepaid ExpensesDecrease in Accrued Expenses PayableRedemption of BondsPurchase of InvestmentsSale of Plant AssetsIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableDecrease in InventoryNet IncomeDecrease in Accounts ReceivablePurchase of Plant AssetsSale of Common StockDecrease in Accounts PayableLoss on Disposal of Plant Assets	$
Increase in Accounts ReceivableNet IncomeDecrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in Accounts PayableIncrease in InventoryDecrease in Accounts PayableSale of Plant AssetsIncrease in Prepaid ExpensesSale of Common StockPurchase of Plant AssetsDecrease in Accrued Expenses PayableDecrease in InventoryPayment of Cash DividendsDepreciation ExpensePurchase of InvestmentsRedemption of BondsLoss on Disposal of Plant AssetsDecrease in Prepaid Expenses
Loss on Disposal of Plant AssetsDecrease in Accrued Expenses PayableIncrease in Accrued Expenses PayableSale of Plant AssetsIncrease in Accounts PayablePurchase of InvestmentsDepreciation ExpenseDecrease in Accounts PayableSale of Common StockIncrease in Prepaid ExpensesRedemption of BondsDecrease in Prepaid ExpensesNet IncomePurchase of Plant AssetsIncrease in InventoryDecrease in Accounts ReceivablePayment of Cash DividendsDecrease in InventoryIncrease in Accounts Receivable
Redemption of BondsDecrease in Accrued Expenses PayableIncrease in Prepaid ExpensesIncrease in Accrued Expenses PayableDecrease in Prepaid ExpensesPurchase of InvestmentsSale of Common StockIncrease in InventoryIncrease in Accounts PayablePayment of Cash DividendsIncrease in Accounts ReceivableNet IncomeDecrease in Accounts ReceivableSale of Plant AssetsDecrease in InventoryDecrease in Accounts PayablePurchase of Plant AssetsDepreciation ExpenseLoss on Disposal of Plant Assets
Depreciation ExpensePayment of Cash DividendsLoss on Disposal of Plant AssetsIncrease in InventoryIncrease in Accrued Expenses PayableDecrease in Prepaid ExpensesSale of Plant AssetsDecrease in InventoryRedemption of BondsPurchase of InvestmentsNet IncomeIncrease in Accounts PayableDecrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Prepaid ExpensesDecrease in Accrued Expenses PayableDecrease in Accounts ReceivablePurchase of Plant AssetsSale of Common Stock
Payment of Cash DividendsNet IncomeIncrease in InventoryDecrease in Accrued Expenses PayableLoss on Disposal of Plant AssetsIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesDecrease in Prepaid ExpensesDecrease in InventorySale of Common StockIncrease in Accounts ReceivableDecrease in Accounts PayableSale of Plant AssetsDecrease in Accounts ReceivableRedemption of BondsPurchase of InvestmentsPurchase of Plant AssetsDepreciation ExpenseIncrease in Accounts Payable
Increase in Accounts PayableDepreciation ExpenseIncrease in Accrued Expenses PayableDecrease in Accounts PayableIncrease in Prepaid ExpensesDecrease in Accrued Expenses PayableLoss on Disposal of Plant AssetsPurchase of Plant AssetsDecrease in Accounts ReceivableDecrease in Prepaid ExpensesSale of Plant AssetsIncrease in InventoryPurchase of InvestmentsSale of Common StockIncrease in Accounts ReceivablePayment of Cash DividendsRedemption of BondsDecrease in InventoryNet Income
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Increase in Accounts PayableNet IncomeDepreciation ExpenseIncrease in Prepaid ExpensesIncrease in Accounts ReceivableDecrease in Accounts PayableLoss on Disposal of Plant AssetsPayment of Cash DividendsIncrease in Accrued Expenses PayableDecrease in InventoryDecrease in Accrued Expenses PayableDecrease in Prepaid ExpensesDecrease in Accounts ReceivableSale of Plant AssetsIncrease in InventoryPurchase of InvestmentsSale of Common StockPurchase of Plant AssetsRedemption of Bonds
Loss on Disposal of Plant AssetsDecrease in Accounts ReceivableDepreciation ExpenseIncrease in Accounts PayableDecrease in InventoryPurchase of Plant AssetsRedemption of BondsNet IncomeDecrease in Accounts PayableIncrease in InventoryDecrease in Accrued Expenses PayableDecrease in Prepaid ExpensesIncrease in Accounts ReceivableSale of Plant AssetsIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesPurchase of InvestmentsSale of Common StockPayment of Cash Dividends
Decrease in Prepaid ExpensesIncrease in InventoryRedemption of BondsPayment of Cash DividendsPurchase of InvestmentsNet IncomeDepreciation ExpenseDecrease in Accrued Expenses PayableDecrease in Accounts ReceivableIncrease in Accounts PayableDecrease in Accounts PayableSale of Plant AssetsLoss on Disposal of Plant AssetsIncrease in Accrued Expenses PayableDecrease in InventoryIncrease in Prepaid ExpensesIncrease in Accounts ReceivablePurchase of Plant AssetsSale of Common Stock
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Increase in Accounts PayableDecrease in Prepaid ExpensesPurchase of Plant AssetsPurchase of InvestmentsRedemption of BondsNet IncomeSale of Plant AssetsDepreciation ExpenseSale of Common StockPayment of Cash DividendsLoss on Disposal of Plant AssetsDecrease in Accounts ReceivableDecrease in Accounts PayableIncrease in InventoryDecrease in Accrued Expenses PayableIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesDecrease in InventoryIncrease in Accounts Receivable
Loss on Disposal of Plant AssetsPayment of Cash DividendsDecrease in InventoryIncrease in Accrued Expenses PayableDepreciation ExpenseIncrease in Prepaid ExpensesDecrease in Accounts PayableDecrease in Accrued Expenses PayableRedemption of BondsDecrease in Prepaid ExpensesIncrease in InventoryIncrease in Accounts ReceivableSale of Plant AssetsPurchase of InvestmentsDecrease in Accounts ReceivableNet IncomePurchase of Plant AssetsSale of Common StockIncrease in Accounts Payable
Increase in Accounts PayableIncrease in Prepaid ExpensesIncrease in Accrued Expenses PayableDecrease in Accounts PayableSale of Common StockDecrease in Prepaid ExpensesSale of Plant AssetsNet IncomeLoss on Disposal of Plant AssetsIncrease in InventoryDecrease in InventoryRedemption of BondsIncrease in Accounts ReceivableDepreciation ExpenseDecrease in Accounts ReceivablePurchase of InvestmentsDecrease in Accrued Expenses PayablePayment of Cash DividendsPurchase of Plant Assets
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$