Here are comparative balance sheets for Velo Company.

VELO COMPANY
Comparative Balance Sheets
31-Dec
Assets	2015	2014
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

1.

Net income for 2015 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 2015, but land was sold at cost.

Prepare a statement of cash flows for 2015 using the indirect method.

Velo Company
Statement of Cash Flows
For the Year Ended December 31, 2015