Prepare a statement of cash flows for Eldridge Company using the following information (use blank sheet of paper provided). Eldridge Company Balance Sheets At December 31 2013 2012 Assets: Cash .................................................................................... $ 29,568 $ 27,648 Accounts receivable ........................................................... 38,616 35,280 Merchandise inventory ...................................................... 87,750 74,052 Long-term investments ...................................................... 67,080 67,680 Machinery .......................................................................... 210,600 174,600 Accumulated depreciation ................................................. (40,260 ) (37,440 ) Total assets ..................................................................... $393,354 $341,820 Liabilities: Accounts payable ............................................................... $ 78,000 $ 48,456 Income taxes payable ......................................................... 12,870 12,240 Bonds payable .................................................................... 58,500 79,200 Total liabilities ................................................................ $149,370 $139,896 Equity: Common stock ................................................................... 140,400 115,200 Paid-in capital in excess of par ........................................... 15,600 10,800 Retained earnings .............................................................. 87,984 75,924 Total equity .................................................................... $243,984 $201,924 Total liabilities and equity ............................................... $393,354 $341,820 Eldridge Company Income Statement For Year Ended December 31, 2013 Sales .................................................................. $288,000 Cost of goods sold ............................................. $97,080 Depreciation expense ....................................... 35,280 Other operating expenses ................................ 57,600 Interest expense ............................................... 2,400 (192,360) ) Other gains (losses): Loss on sale of equipment ............................. (10,080) ) Income before taxes ......................................... 85,560 Income taxes expense ....................................... 33,180 Net income ................................................... $ 52,380 Additional information: (1) Sold 5 year bond investment for $600. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash. (3) New machinery was purchased for $81,060 cash. (4) Cash dividends of $40,320 were paid. (5) Additional shares of stock were issued for $30,000. (6) Retired bonds previously issued for $20,700.