O Cash xt NUNEZ COMPANY Comparative Balance Sheets December 31 Assets 2010 $ 41,000 Accounts receivable 77,000 Inventory 192,000 Prepaid expenses 12,140 Land 100,000 Equipment 205,000 Accumulated depreciation-equipment (70,000) Building 250,000 Accumulated depreciation-building (70,000) Total $737,140 2009 $ 57,000 64,000 140,000 16,540 150,000 175,000 (42,000) 250,000 (50,000) $760,540 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $ 48,000 235,000 280,000 174,140 $737,140 $ 45,000 265,000 250,000 200,540 $760,540 Additional information: 1. Operating expenses include depreciation expense $65,000 and charges from prepaid expenses of $4,400. 2. Land was sold for cash at cost. 3. Cash dividends of $59,290 were paid. 4. Net income for 2010 was $32,890. 5. Equipment was purchased for $70,000 cash. In addition, equipment costing $40,000 with a book value of $23,000 was sold for $25,000 cash. 6. Bonds were converted at face value by issuing 30,000 shares of $1 par value com- mon stock. Instructions Prepare a statement of cash flows for 2010 using the indirect method. Cash from operations $38,290 imme