Problem 12-10A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 150,288 $ 90,024 Accounts receivable 163,308 70,680 Inventory 209,250 191,301 Prepaid expenses 52,824 48,360 Long-term investments 256,680 202,740 Plant assets 530,100 451,050 Accumulated depreciation (93,000 ) (96,720 ) Total $1,269,450 $957,435 Liabilities and Stockholders Equity Accounts payable $ 189,720 $ 125,178 Accrued expenses payable 30,690 39,060 Bonds payable 204,600 271,560 Common stock 409,200 325,500 Retained earnings 435,240 196,137 Total $1,269,450 $957,435 ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 Sales revenue $722,536 Less: Cost of goods sold $251,956 Operating expenses, excluding depreciation 23,083 Depreciation expense 86,490 Income taxes 50,741 Interest expense 8,798 Loss on disposal of plant assets 13,950 435,018 Net income $ 287,518 Additional information: 1. New plant assets costing $186,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $106,950 and accumulated depreciation of $90,210 were sold for $2,790 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $48,415 was declared and paid during the year. Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Odgers Inc. using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014 $ : $