Net income for the fiscal year aiding December 31, 2014, was $23,000. Deprociation expense was $43,000 and amortication expense (patients) was 19,000. In April 2014, a plot of land with original cost of $86,000 was sold for proceeds of $95,000. In October 2014, an additional plot of land was purchased for future construction of a plant site. In April 2014, notes payable amounting no $100,000 were retired through insurance of common shares. In December 2014, notes payable amounting to $25,000 were issued. On December 31, 2014, equipment with an original cost of $40,000 and accumulated depreciation to date of $12,000 was sold for proceeds of $21,000. No equipment was purchased in the year. Dividends on common shares of $15,000 were declared and paid in December 2014. Dividends paid are treated as financing activities. $10,000 of additions were made to the patent account during 2014. One patent was sold for $35,000. Prepare a statement of cash flows using the indirect method for cash flows from operating activities for the year ended December 31, 2014, including any necessary notes. If Spencer's sales revenue for 2014 were $654,000, what was the cash collected from its customers during 2014? If Spencer's insurance expense for 2014 was $55,000, what was the insurance premium paid during 2014