Condensed financial data of Cheng Inc. follow.

CHENG INC. Comparative Balance Sheets December 31
Assets		2015			2014
Cash		$89,410			$47,620
Accounts receivable		92,080			33,070
Inventory		112,160			102,050
Prepaid expenses		28,570			25,180
Investments		137,890			113,100
Equipment		270,370			242,020
Accumulated depreciationequipment		(50,840	)		(51,790	)
Total		$679,640			$511,250
Liabilities and Stockholders Equity
Accounts payable		$111,880			$67,620
Accrued expenses payable		16,040			17,060
Bonds payable		112,180			149,070
Common stock		220,990			175,060
Retained earnings		218,550			102,440
Total		$679,640			$511,250

CHENG INC. Income Statement For the Year Ended December 31, 2015
Sales				$391,360
Less:
Cost of goods sold		134,260
Operating expenses, excluding depreciation		11,180
Depreciation expense		47,330
Income tax expense		27,980
Interest expense		4,430
Loss on disposal of plant asstets		6,930		232,110
Net income				$159,250

Additional information:

1.		New Equipment costing $84,570 were purchased for cash during the year.
2.		Old Equipment having an original cost of $56,220 was sold for $1,010 cash.
3.		Bonds matured and were paid off at face value for cash.
4.		A cash dividend of $43,140 was declared and paid during the year.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2015

Adjustments to reconcile net income to