Lymon has provided you with the balance sheet and income statement that Ortiz prepared, as well as some notes she made:

Carlee Instruments

Income Statement

For the Year Ended December 31, 2014

Sales revenue $131,710

Cost of goods sold 72,790

Gross margin 58,920

Selling expense $12,880

Administrative expense 7,760

Salaries expense 20,430

Depreciation expense 1,530

Interest expense 3,910 46,510

Income before gain and taxes 12,410

Gain on sale of equipment 840

Income tax expense 820

Net income $12,430

Carlee Instruments

Comparative Balance Sheets

As of December 31

2014 2013

Cash $6,120 $4,320

Accounts receivable, net 6,700 5,440

Inventory 32,120 32,950

Total current assets 44,940 42,710

Property, plant, & equipment, net 203,520 204,740

Total Assets $248,460 $247,450

Accounts payable $3,430 $4,710

Accrued expenses 2,340 2,100

Taxes payable 2,140 2,660

Note payable 61,420 51,360

Total liabilities 69,330 60,830

Common stock 125,670 125,670

Retained earnings 53,460 60,950

Total stockholders' equity 179,130 186,620

Total liabilities & stockholders' equity $248,460 $247,450

Equipment with an original cost of $34,100was sold for $19,560. The book value of the equipment was $18,720.

On June 1, 2014, the company purchased new equipment for cash at a cost of $19,030.

At the end of the year the company issued notes payable for $10,060cash. The note will mature on December 31, 2018.

The company paid $19,920in cash dividends for the year.

Using the indirect method, prepare Carlee Instruments' statement of cash flows for 2014.