*****Please create a Statement of Cash Flow - Indirect Method*****

The comparative balance sheet of Posner Company, for 2011 and the preceeding year ended December 31, 2010 are: 2011 2010 Cash .................................................................$53,000................50,000 Accts Rec........................................................... 37,000 ................48,000 Inventories............................................................108,500............. 100,000 Investments ........... ............................................ .................70,000 Equipment .............................................................573,200............450,000 Acc Depreciation...................................................(142,000)...........(176,000)

Accounts Payable .................................................$62,500............$43,800 Bonds Payable, due 2011 ........ ............................... ............100,000 Common Stock, $10 par ........................................325,000.............285,000 Paid-in Capital in excess of par common stock ......................................................80,000................55,000 Retained earnings.................................................162,200...............58,200 ...........................................................................$629,700............$542,000

The income statement for the current year is as follows: Sales ................................................................... .............$625,700 Cost of Merchandise sold ...................................... .............340,000 Gross Profit ......................................................... .............$285,700 Operating expenses: Depreciation expense ...........................................$26,000................ . Other operating expense .........................................68,000................94,000 Income from operations.....................................................................$191,700 Other income: Gain on sale of investment ......................................$4,000................. . Other expense: Interest expense .....................................................6,000.................(2,000) Income before income tax ....................................... ..............$189,700 Income tax ............................................................ ...............60,700 Net income.....................................................................................$129,000

Additional data for the current year are as follows: (a) Fully depreciated equipment costing $60,000 was scraped, no salvage, and equipment was purchased for $183,200 (b) Bonds payable for $100,000 were retired by payment at their face amount. (c) 4,000 shares of common stock were issued at $16.25 for cash. (d) Cash dividends declared and paid, $25,000.

Please provide complete cash flows statement!

Thanks!