A comparative balance sheet for the Bright Corporation is presented below:

BRIGHT CORPORATION Comparative Balance Sheet

$20122011$

Assets

Cash $ $39,000$ $ $31,000$

Accounts receivable $($net$)22,00017,000$

Land $70,00060,000$

Equipment $18,00040,000$

Accumulated depreciation $(20,000)(13,000)$

Total Assets $$209,000$ $$195,000$

Liabilities and Stockholders' Equity

Accounts payable $$11,000$ $$6,000$

Bonds payable $27,00019,000$

Common stock $140,000115,000$

Retained earnings $31,00055,000$

Total liabilities &stockholders' equity $$209,000$ $$195,000$

Additional information:

$1.$ Net loss for $2012$ is $$20,000.$ Net sales for $2012$ are $$250,000.$

$2.$ Cash dividends of $$4,000$ were declared and paid in $2012.$

$3.$ Land was sold for cash at a loss of $$10,000.$ This was the only land transaction during the year.

$4.$ Equipment with a cost of $$15,000$ and accumulated depreciation of $$10,000$ was sold for $$5,000$ cash.

$5.$ $$12,000$ of bonds were retired during the year at carrying $($book$)$ value.

$6.$ Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $$25,000.$

Required: Prepare a statement of cash flows for the year ended $2012$ using the indirect method.