Condensed financial data of Odgers Inc. follow.

ODGERS INC. Comparative Balance Sheets December 31
Assets		2014			2013
Cash		$ 154,328			$ 92,444
Accounts receivable		167,698			72,580
Inventory		214,875			196,444
Prepaid expenses		54,244			49,660
Long-term investments		263,580			208,190
Plant assets		544,350			463,175
Accumulated depreciation		(95,500	)		(99,320	)
Total		$1,303,575			$983,173
Liabilities and Stockholders Equity
Accounts payable		$ 194,820			$ 128,543
Accrued expenses payable		31,515			40,110
Bonds payable		210,100			278,860
Common stock		420,200			334,250
Retained earnings		446,940			201,410
Total		$1,303,575			$983,173

ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue				$741,959
Less:
Cost of goods sold		$258,729
Operating expenses, excluding depreciation		23,703
Depreciation expense		88,815
Income tax expense		52,105
Interest expense		9,034
Loss on disposal of plant assets		14,325		446,711
Net income				$ 295,248

Additional information:

1.		New plant assets costing $191,000 were purchased for cash during the year.
2.		Old plant assets having an original cost of $109,825 and accumulated depreciation of $92,635 were sold for $2,865 cash.
3.		Bonds payable matured and were paid off at face value for cash.
4.		A cash dividend of $49,718 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).)

ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014