income Additional information for 2014: 1. Depreciation expense was comprised of $6,000 for building and $3,000 for equipment. 2. The company sold equipment with a book value of $7,000 (cost $8,000, less accumulated depreciation $1,000) for $4,000 cash. 3. Issued $110,000 of long-term bonds in direct exchange for land. 4. A building costing $120,000 was purchased for cash. Equipment costing $25,000 was also purchased for cash. 5. Issued common stock for $20,000 cash. 6. The company declared and paid a $29,000 cash dividend. Requirements: Prepare a cash flow statement under indirect method for the period of 2014. Computer Services Company is established in the year of 2011 and it's financial information for the year of 2014 is given below: Computer Services Company Comparative Balance sheets December 31 Assets 2014 2013 Current assets Cash $ 55,000 $ 33,000 Accounts receivable 20,000 30,000 Inventory 15,000 10,000 Prepaid expenses 5,000 1,000 Property, plant, and equipment Land 130,000 20,000 Buildings 160,000 40,000 Accumulated depreciation-buildings (11,000) (5,000) Equipment 27,000 10,000 Accumulated depreciation equipment (3,000) (1,000) Total assets $398,000 $138,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Long-term liabilities Bonds payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity $ 28,000 $ 12,000 6,000 8,000 130,000 20,000 70,000 50,000 164,000 48,000 $398,000 $138,000 $507,000 Sales revenue Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Loss on disposal of plant assets Interest expense Income before income tax Income tax expense Net income $150,000 111,000 9,000 3,000 42,000 315,000 192,000 47,000 $145,000