9. Below are the comparative balance sheets for Dorchester Company as of December 31.

DORCHESTER COMPANY Comparative Balance Sheets For the Year ended December 31, 2014
Assets	2014	2013
Cash	$ 96,000	$ 78,000
Accounts receivable	76,000	70,000
Inventory	52,000	55,000
Prepaid expenses	22,000	18,000
Land	110,000	144,000
Buildings	300,000	300,000
Accumulated depreciationbuildings	(60,000)	(50,000)
Equipment	264,000	210,000
Accumulated depreciationequipment	(90,000)	(80,000)
Total	$770,000	$745,000
Liabilities and Stockholders' Equity
Accounts payable	$ 26,000	$ 35,000
Bonds payable	350,000	400,000
Common stock, $1 par	170,000	120,000
Retained earnings	224,000	190,000
Total	$770,000	$745,000

Additional information:

1.	Operating expenses include depreciation expense of $48,000.
2.	Land was sold for cash at book value.
3.	Cash dividends of $12,000 were paid.
4.	Net income for 2014 was $46,000.
5.	Equipment was purchased for $88,000 cash. In addition, equipment costing $34,000 with a book value of $6,000 was sold for $9,000 cash.
6.	Bonds were converted at face value by issuing 50,000 shares of $1 par value common stock.

Prepare a statement of cash flows as of December 31st 2014 for Dorchester.