Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2014. BRECKER INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 12/31/14 12/31/13 Cash $5,865 $8,921 Accounts receivable 61,861 48,995 Short-term investments (available-for-sale) 35,086 18,166 Inventory 40,176 60,084 Prepaid rent 4,821 3,874 Equipment 154,170 128,930 Accumulated depreciationequipment (35,102 ) (25,046 ) Copyrights 46,184 49,928 Total assets $313,061 $293,852 Accounts payable $45,951 $41,813 Income taxes payable 3,911 6,055 Salaries and wages payable 8,159 3,978 Short-term loans payable 8,194 9,991 Long-term loans payable 59,991 67,160 Common stock, $10 par 104,470 104,470 Contributed capital, common stock 32,000 32,000 Retained earnings 50,385 28,385 Total liabilities & stockholders equity $313,061 $293,852 BRECKER INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2014 Sales revenue $339,082 Cost of goods sold 174,970 Gross profit 164,112 Operating expenses 120,250 Operating income 43,862 Interest expense $11,358 Gain on sale of equipment 1,935 9,423 Income before tax 34,439 Income tax expense 6,702 Net income $27,737 Additional information: 1. Dividends in the amount of $5,737 were declared and paid during 2014. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $30,800 and was 70% depreciated was sold during 2014. Prepare a statement of cash flows using the direct method