Here are comparative balance sheets for Velo Company. Prepare a statement of cash flows for 2014 using the indirect method.

VELO COMPANY Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$ 63,000	$ 22,000
Accounts receivable	85,000	76,000
Inventory	170,000	189,000
Land	75,000	100,000
Equipment	270,000	200,000
Accumulated depreciationequipment	(66,000)	(32,000)
Total	$597,000	$555,000
Liabilities and Stockholders' Equity
Accounts payable	$ 39,000	$ 47,000
Bonds payable	150,000	200,000
Common stock ($1 par)	216,000	174,000
Retained earnings	192,000	134,000
Total	$597,000	$555,000

Additional information:

1.	Net income for 2014 was $93,000.
2.	Cash dividends of $35,000 were declared and paid.
3.	Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4.	Common stock was issued for $42,000 cash.
5.	No equipment was sold during 2014, but land was sold at cost.