Presented below are the financial statements of Rajesh Company. Rajesh Company Comparative Balance Sheets December 31 Assets 2014 and 2013

Cash $37,270 (2014) $19,960 (2013) Accounts receivable 32,730 (2014) 19,290 (2013) Inventory 29,850 (2014) 20,910(2013) Equipment 59,110 (2014) 77,420 (2013) Accumulated depreciationequipment (29,080 (2014) (23,930 (2013) Total $129,880 (2014) $113,650 (2013) Liabilities and Stockholders Equity Accounts payable $28,570 (2014) $ 16,490 (2013) Income taxes payable 7,250 (2014) 8,240 (2013) Bonds payable 27,980 (2014) 32,830 (2013) Common stock 18,010 (2014) 13,460 (2013) Retained earnings 48,070 (2014) 42,630 (2013) Total $129,880 (2014) $113,650 (2014) Rajesh Company Income Statement For the Year Ended December 31, 2014 Sales revenue $241,540 Cost of goods sold 176,220 Gross profit 65,320 Operating expenses 23,750 Income from operations 41,570 Interest expense 2,090 Income before income taxes 39,480 Income tax expense 8,740 Net income $30,740 Additional data: 1. Depreciation expense is 13,660. 2. Dividends declared and paid were $25,300. 3. During the year equipment was sold for $9,800 cash. This equipment cost $18,310 originally and had accumulated depreciation of $8,510 at the time of sale. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

RAJESH COMPANY Statement of Cash Flows For the Year Ended December 31, 201