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Please help.. The following information is available for Flip Corporation for the year ended December 31, 2014: Collection of principal on long-term loan to a

Please help..

The following information is available for Flip Corporation for the year ended December 31, 2014:

Collection of principal on long-term loan to a supplier $15,000

Acquisition of equipment for cash 10,000

Proceeds from the sale of long-term investment at book value 20,000

Issuance of common stock for cash 27,000

Depreciation expense 28,000

Redemption of bonds payable at carrying (book) value 35,000

Payment of cash dividends 15,000

Net income 25,000

Purchase of land by issuing bonds payable 45,000

In addition, the following information is available from the comparative balance sheet for Flip at the end of 2013 and 2014:

2014 2013 Cash $ 66,000 $14,000

Accounts receivable (net) 20,000 16,000

Prepaid insurance 18,000 13,000

Total current assets $104,000 $43,000

Accounts payable $ 30,000 $20,000

Salaries payable 3,000 7,000

Total current liabilities $ 33,000 $27,000

Instructions: Prepare Flip's statement of cash flows for the year ended December 31, 2012 using the indirect method.

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