a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required.

Statement of Cash Flows-Indirect Method The comparative balance sheet of Tru-Built Construction Inc. for December 31, 2014 and 2013, is as follows: Dec. 31, 2014 Dec. 31, 2013 Asset Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment $157 90 56 128 72 (19) $484 $52 65 148 57 (10) $348 Total $61 10 32 70 311 $484 The following additional information is taken from the records Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings $52 16 41 239 $348 Total 1. Land was sold for $50 2. Equipment was acquired for cash 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash 5. There was a $104 credit to Retained Earnings for net income 6. There was a $32 debit to Retained Earnings for cash dividends declared