LANS INC. Balance Sheet December 31, 2013 Cash 20,000 Accounts Payable 30,000 Accounts Receivable 21,200 Notes Payable (Long-term) 41,000 Investments 32,000 Common Stock 100,000 Plant Assets (Net) 81,000 Retained Earnings 23.200 Land 40,000 194,200 194,200 During 2014 the following occurred: 1.Lans Inc. sold part of its investment portfolio for 15,000. This transaction resulted in a gain of 3,400 for the firm. The company classifies its investments as available-for-sale. 2.A tract of land was purchased for 18,000 cash. 3.Long-term notes payable in the amount of 16,000 were retired before maturity by paying 16.000 cash. 4. An additional 20,000 in common stock was issued at par. 5.Dividends totalling 8,200 were declared and paid to stockholders. 6.Net income for 2014 was 32,000 after allowing for depreciation of 11,000 7.Land was purchased through the issuance of 30,000 in bonds. 8.At December 31, 2014, Cash was 32,000 Accounts Receivable was 41,600 and Accounts Payable remained at 30,000 Required: Prepare a statement of cash flows for 2014