Avatar Company Income Statement For the Year Ended December 31, 2014 $ 240,000 1,000l 4,000 $ 245,000 Revenues and gains: Sales revenue Interest revenue Gain on sale of plant assets Total revenues Expenses: Cost of goods sold Salary expense Amortization expense Other operating expenses Interest expense Income tax expense Total expenses Net income $ 110,000 45,000 12.000 23,000 1,000 5,000 196.000 $ 49.000 Avatar Company Statement of Retained Earnings For the Year Ended December 31, 2014 Retained earnings, January 1, 2014 Net income Dividends Retained earnings, December 31, 2014 $ 54,000 49,000 (10.000) $ 93.000 2/3 Additional information provided: Equipment costing $52,000 was purchased for cash. Equipment with a net asset value of $10,000 was sold for $14,000 Depreciation expense of $12,000 was recorded during the year. During 2014, the company repaid $40,000 of long-term notes payable. During 2014, the company borrowed $34,000 on a new note payable There were no stock retirements during the year. There were no sales of treasury stock during the year. 22) Refer to Table 17-4. Prepare a statement of cash flows in good form assuming that Avatar Company uses the indirect method