comparative balance sheet for the Bright Corporation is presented below:

BRIGHT CORPORATION

Comparative Balance Sheet

$2012$

$2011$

Assets

Cash

$ $39,000$

$ $31,000$

Accounts receivable $($net$)$

$80,000$

$60,000$

Prepaid insurance

$22,000$

$17,000$

Land

$18,000$

$40,000$

Equipment

$70,000$

$60,000$

Accumulated depreciation

$(20,000)$

$(13,000)$

Total Assets

$$209,000$

$$195,000$

Liabilities and Stockholders' Equity

Accounts payable

$ $11,000$

$ $6,000$

Bonds payable

$27,000$

$19,000$

Common stock

$140,000$

$115,000$

Retained earnings

$31,000$

$55,000$

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.