Oslo Company

Comparative Balance Sheet

December 31

2018 2017

Cash $ 59,000 $ 36,000

Accounts receivable, net 53,000 57,000

Inventory 156,000 123,000

Land 180,000 285,000

Buildings 300,000 300,000

Accumulated depreciationbuilding

(75,000) (60,000)

Equipment 1,565,000 900,000

Accumulated depreciationequipment (177,000) (141,000)

$2,061,000 $1,500,000

Accounts payable $ 202,000 $ 150,000

Bonds payable 450,000 -0-

Capital stock, $10 par 1,250,000 1,250,000

Retained earnings 159,000 100,000

$2,061,000 $1,500,000

Additional Data:

1. Net income for the year amounted to $134,000.

2. Cash dividends were paid amounting to 6% of par value.

3. Land was sold for $130,000.

4. Oslo sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $115,000.

Required:

Prepare a statement of cash flows using the indirect method