Condensed financial data of Odgers Inc. follow.

ODGERS INC. Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$110,696	$66,308
Accounts receivable	120,286	52,060
Inventory	154,125	140,905
Prepaid expenses	38,908	35,620
Long-term investments	189,060	149,330
Plant assets	390,450	332,225
Accumulated depreciation	(68,500	)	(71,240	)
Total	$935,025		$705,208
Liabilities and Stockholders Equity
Accounts payable	$139,740	$92,201
Accrued expenses payable	22,605	28,770
Bonds payable	150,700	200,020
Common stock	301,400	239,750
Retained earnings	320,580		144,467
Total	$935,025		$705,208

ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue	$532,190
Less:
Cost of goods sold	$185,580
Operating expenses, excluding depreciation	17,002
Depreciation expense	63,705
Income tax expense	37,374
Interest expense	6,480
Loss on disposal of plant assets	10,275	320,416
Net income	$211,774

Additional information:

1.	New plant assets costing $137,000were purchased for cash during the year.
2.	Old plant assets having an original cost of $78,775and accumulated depreciation of $66,445were sold for $2,055cash.
3.	Bonds payable matured and were paid off at face value for cash.
4.	A cash dividend of $35,661was 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
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Depreciation ExpenseIncrease in Accounts PayableIncrease in InventoryDecrease in InventoryPayment of Cash DividendsRedemption of BondsIncrease in Accounts ReceivableDecrease in Prepaid ExpensesDecrease in Accrued Expenses PayableDecrease in Accounts ReceivableSale of Plant AssetsPurchase of InvestmentsPurchase of Plant AssetsIncrease in Accrued Expenses PayableSale of Common StockNet IncomeIncrease in Prepaid ExpensesDecrease in Accounts PayableLoss on Disposal of Plant Assets	$
Adjustments to reconcile net income to
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Loss on Disposal of Plant AssetsNet IncomeIncrease in InventorySale of Plant AssetsIncrease in Accrued Expenses PayableDecrease in Accounts ReceivableDecrease in Prepaid ExpensesIncrease in Prepaid ExpensesSale of Common StockRedemption of BondsDecrease in Accrued Expenses PayableDecrease in Accounts PayableDepreciation ExpenseDecrease in InventoryIncrease in Accounts ReceivablePurchase of InvestmentsPurchase of Plant AssetsPayment of Cash DividendsIncrease in Accounts Payable	$
Sale of Common StockIncrease in Accrued Expenses PayableLoss on Disposal of Plant AssetsDecrease in Accounts PayableDecrease in Prepaid ExpensesDecrease in InventoryIncrease in Accounts ReceivableDecrease in Accounts ReceivablePayment of Cash DividendsNet IncomeIncrease in Prepaid ExpensesIncrease in InventoryRedemption of BondsDecrease in Accrued Expenses PayablePurchase of Plant AssetsSale of Plant AssetsPurchase of InvestmentsDepreciation ExpenseIncrease in Accounts Payable
Decrease in Accrued Expenses PayableDecrease in Prepaid ExpensesPayment of Cash DividendsDecrease in Accounts PayableIncrease in Accounts PayableSale of Common StockLoss on Disposal of Plant AssetsPurchase of InvestmentsNet IncomeIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesPurchase of Plant AssetsDepreciation ExpenseIncrease in InventoryDecrease in InventoryRedemption of BondsIncrease in Accounts ReceivableDecrease in Accounts ReceivableSale of Plant Assets
Increase in Prepaid ExpensesDecrease in Accounts ReceivableLoss on Disposal of Plant AssetsSale of Common StockDepreciation ExpenseDecrease in InventoryIncrease in Accounts PayableNet IncomeDecrease in Accounts PayableDecrease in Prepaid ExpensesPurchase of InvestmentsIncrease in Accrued Expenses PayableIncrease in InventoryDecrease in Accrued Expenses PayablePayment of Cash DividendsSale of Plant AssetsIncrease in Accounts ReceivableRedemption of BondsPurchase of Plant Assets
Decrease in Accounts ReceivableLoss on Disposal of Plant AssetsIncrease in Prepaid ExpensesSale of Plant AssetsNet IncomeIncrease in Accrued Expenses PayableIncrease in Accounts PayableDepreciation ExpensePayment of Cash DividendsDecrease in Accrued Expenses PayableRedemption of BondsIncrease in InventoryDecrease in Accounts PayableDecrease in Prepaid ExpensesDecrease in InventoryIncrease in Accounts ReceivablePurchase of InvestmentsPurchase of Plant AssetsSale of Common Stock
Purchase of Plant AssetsDecrease in Accounts ReceivablePayment of Cash DividendsIncrease in InventoryNet IncomeRedemption of BondsDepreciation ExpenseIncrease in Accounts ReceivableIncrease in Prepaid ExpensesDecrease in Accrued Expenses PayableLoss on Disposal of Plant AssetsIncrease in Accrued Expenses PayablePurchase of InvestmentsIncrease in Accounts PayableDecrease in Accounts PayableDecrease in Prepaid ExpensesDecrease in InventorySale of Plant AssetsSale of Common Stock
Loss on Disposal of Plant AssetsSale of Plant AssetsDecrease in InventoryDepreciation ExpensePayment of Cash DividendsDecrease in Accrued Expenses PayableDecrease in Accounts PayableIncrease in Accrued Expenses PayableIncrease in Prepaid ExpensesNet IncomeDecrease in Prepaid ExpensesRedemption of BondsIncrease in InventoryIncrease in Accounts ReceivableDecrease in Accounts ReceivablePurchase of InvestmentsPurchase of Plant AssetsSale of Common StockIncrease in Accounts Payable
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Purchase of InvestmentsRedemption of BondsNet IncomeDecrease in Accounts PayableDepreciation ExpenseIncrease in Accounts ReceivableSale of Common StockSale of Plant AssetsDecrease in Accrued Expenses PayableIncrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Prepaid ExpensesIncrease in InventoryDecrease in InventoryIncrease in Prepaid ExpensesIncrease in Accrued Expenses PayableLoss on Disposal of Plant AssetsPurchase of Plant AssetsPayment of Cash Dividends
Net IncomeIncrease in Accrued Expenses PayableRedemption of BondsDepreciation ExpenseSale of Common StockLoss on Disposal of Plant AssetsSale of Plant AssetsDecrease in Accrued Expenses PayableDecrease in Accounts ReceivableIncrease in Accounts PayableDecrease in Prepaid ExpensesPurchase of InvestmentsPurchase of Plant AssetsIncrease in InventoryPayment of Cash DividendsDecrease in Accounts PayableIncrease in Prepaid ExpensesDecrease in InventoryIncrease in Accounts Receivable
Increase in Accrued Expenses PayableDecrease in Accrued Expenses PayableIncrease in Prepaid ExpensesPurchase of Plant AssetsDecrease in Prepaid ExpensesIncrease in InventoryPayment of Cash DividendsDepreciation ExpenseIncrease in Accounts PayableDecrease in Accounts PayableIncrease in Accounts ReceivableLoss on Disposal of Plant AssetsNet IncomeDecrease in InventoryDecrease in Accounts ReceivableSale of Plant AssetsPurchase of InvestmentsSale of Common StockRedemption of Bonds
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Payment of Cash DividendsRedemption of BondsSale of Common StockPurchase of Plant AssetsDecrease in InventoryIncrease in Accounts ReceivableNet IncomeDepreciation ExpenseIncrease in Accounts PayableLoss on Disposal of Plant AssetsDecrease in Accounts PayableDecrease in Accrued Expenses PayableIncrease in InventoryIncrease in Accrued Expenses PayableDecrease in Accounts ReceivableIncrease in Prepaid ExpensesDecrease in Prepaid ExpensesSale of Plant AssetsPurchase of Investments
Decrease in Accrued Expenses PayableDecrease in InventoryDepreciation ExpenseIncrease in InventoryIncrease in Accounts ReceivablePayment of Cash DividendsIncrease in Accounts PayableDecrease in Accounts ReceivableSale of Plant AssetsPurchase of InvestmentsDecrease in Accounts PayablePurchase of Plant AssetsNet IncomeIncrease in Prepaid ExpensesLoss on Disposal of Plant AssetsSale of Common StockIncrease in Accrued Expenses PayableRedemption of BondsDecrease in Prepaid Expenses
Decrease in Accounts ReceivableIncrease in InventoryPurchase of Plant AssetsRedemption of BondsDecrease in InventoryLoss on Disposal of Plant AssetsSale of Common StockIncrease in Accounts ReceivableDecrease in Accrued Expenses PayableIncrease in Prepaid ExpensesPayment of Cash DividendsSale of Plant AssetsIncrease in Accounts PayablePurchase of InvestmentsNet IncomeDepreciation ExpenseDecrease in Accounts PayableDecrease in Prepaid ExpensesIncrease in Accrued Expenses Payable
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash	$