Condensed comparative balance sheets of Posner Company at December 31, Years 1 and 2, appear as follows:

	Year 2	Year 1
Cash	$53,000	$50,000
Accounts receivable (net)	37,000	48,000
Inventories	108,500	100,000
Investments	-	70,000
Equipment	573,200	450,000
Accumulated depreciationequipment	(142,000)	(176,000)
Total assets	$629,700	$542,000
Accounts payable	$62,500	$43,800
Bonds payable, due Year 2	-	100,000
Common stock, $10 par	335,000	285,000
Paid-in capital in excess of par	70,000	55,000
Retained earnings	162,200	58,200
Total liabilities and stockholders equity	$629,700	$542,000

The income statement for the current year is as follows:

Sales			$625,700
Cost of merchandise sold			340,000
Gross profit			$285,700
Operating expenses:
Depreciation expense	$26,000
Other operating expenses	68,000		94,000
Income from operations			$191,700
Other revenue and expense:
Gain on sale of investment	$4,000
Interest expense	(6,000)		(2,000)
Income before income tax			$189,700
Income tax expense			60,700
Net income			$129,000

Additional data for the current year are as follows:

Fully depreciated equipment costing $60,000 was scrapped, no salvage, and new equipment was purchased for $183,200.

Bonds payable for $100,000 were retired by payment at their face amount.

5,000 shares of common stock were issued at $13 for cash.

Cash dividends declared and paid, $25,000.

Prepare a statement of cash flows for the year ended December 31, Year 2, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Cash flows from (used for) operating activities:
Cash from sale of common stockCash from sale of investmentsCash paid to retire bonds payableDecrease in inventoriesNet incomeNet income	$Net income
Adjustments to reconcile net income to net cash flows from (used for) operating activities:	blank	blank
Cash from sale of common stockCash paid for dividendsCash paid to retire bonds payableDecrease in inventoriesDepreciationDepreciation	Depreciation
Cash from sale of common stockCash from sale of investmentsCash paid for purchase of equipmentDecrease in inventoriesGain on sale of investmentGain on sale of investment	Gain on sale of investment	blank
Changes in current operating assets and liabilities:	blank	blank
Cash paid for dividendsCash paid for purchase of equipmentCash paid to retire bonds payableDecrease in accounts receivableDecrease in inventoriesDecrease in accounts receivable	Decrease in accounts receivable
Cash from sale of common stockCash from sale of investmentsCash paid for dividendsDecrease in inventoriesIncrease in accounts payableDecrease in inventories	Decrease in inventories
Cash from sale of investmentsCash paid for dividendsCash paid for purchase of equipmentIncrease in inventoriesIncrease in accounts payableIncrease in accounts payable	Increase in accounts payable
Net cash flows from operating activitiesNet cash flows used for operating activitiesNet cash flows from operating activities		$Net cash flows from operating activities
Cash flows from (used for) investing activities:	blank	blank
Cash from sale of investmentsDepreciationGain on sale of investmentIncrease in inventoriesNet incomeCash from sale of investments	$Cash from sale of investments
Cash from sale of common stockCash paid for purchase of equipmentGain on sale of investmentIncrease in accounts payableIncrease in inventoriesCash paid for purchase of equipment	Cash paid for purchase of equipment
Net cash flows from investing activitiesNet cash flows used for investing activitiesNet cash flows from investing activities		Net cash flows from investing activities
Cash flows from (used for) financing activities:
Cash from sale of common stockCash from sale of investmentsGain on sale of investmentIncrease in inventoriesIncrease in accounts payableCash from sale of common stock	$Cash from sale of common stock
Cash paid for purchase of equipmentCash paid to retire bonds payableDecrease in accounts receivableDepreciationIncrease in inventories	- Select -
Cash paid for dividendsDecrease in accounts receivableDepreciationGain on sale of investmentIncrease in inventoriesCash paid for dividends	Cash paid for dividends
Net cash flows from financing activitiesNet cash flows used for financing activities		- Select -
Net decrease in cashNet increase in cash		$- Select -
Cash balance, January 1, Year 2		fill in the blank 31
Cash balance, December 31, Year 2