Luo Inc. had the following statement of financial position at December 31, 2014 (amounts in thousands).

LUO INC. Statement of Financial Position December 31, 2014
Investments	32,000	Share capitalordinary	100,000
Plant assets (net)	81,000	Retained earnings	23,200
Land	40,000	Bonds payable	41,000
Accounts receivable	21,200	Accounts payable	30,000
Cash	20,000
	194,200		194,200

During 2015, the following occurred.

1. Luo liquidated its non-trading equity investment portfolio at a loss of 5,000.

2. A tract of land was purchased for 38,000.

3. An additional 30,000 in ordinary shares were issued at par.

4. Dividends totaling 10,000 were declared and paid to shareholders.

5. Net income for 2015 was 35,000, including 12,000 in depreciation expense.

6. Land was purchased through the issuance of 30,000 in additional bonds.

7. At December 31, 2015, Cash was 70,200, Accounts Receivable was 42,000, and Accounts Payable was 40,000.

Instructions

Prepare a statement of cash flows for the year 2015 for Luo.