Problem 12 9A Condensed financial data of Odgers Inc follow ODGERS INC Comparative Balance Sheets December 31 Assets 2014 2013 Cash $158,368 $94,864 Accounts receivable 172,088 74,480 Inventory 220,500 201,586 Prepaid expenses 55,664 50,960 Long term investments 270,480 213,640 Plant assets 558,600 475,300 Accumulated depreciation (98,000 ) (101,920 ) Total $1,337,700 $1,008,910 Liabilities and Stockholders Equity Accounts payable $199,920 $131,908 Accrued expenses payable 32,340 41,160 Bonds payable 215,600 286,160 Common stock 431,200 343,000 Retained earnings 458,640 206,682 Total $1,337,700 $1,008,910 ODGERS INC Income Statement Data For the Year Ended December 31, 2014 Sales revenue $761,382 Less Cost of goods sold $265,502 Operating expenses, excluding depreciation 24,324 Depreciation expense 91,140 Income tax expense 53,469 Interest expense 9,271 Loss on disposal of plant assets 14,700 458,406 Net income $302,976 Additional information 1 New plant assets costing $196,000were purchased for cash during the year 2 Old plant assets having an original cost of $112,700and accumulated depreciation of $95,060were sold for $2,940cash 3 Bonds payable matured and were paid off at face value for cash 4 A cash dividend of $51,018was declared and paid during the year 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) )

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Problem 12-9A Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 2013 Cash $158,368 $94,864 Accounts receivable 172,088

Problem 12-9A Condensed financial data of Odgers Inc. follow.

ODGERS INC. Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$158,368	$94,864
Accounts receivable	172,088	74,480
Inventory	220,500	201,586
Prepaid expenses	55,664	50,960
Long-term investments	270,480	213,640
Plant assets	558,600	475,300
Accumulated depreciation	(98,000	)	(101,920	)
Total	$1,337,700		$1,008,910
Liabilities and Stockholders Equity
Accounts payable	$199,920	$131,908
Accrued expenses payable	32,340	41,160
Bonds payable	215,600	286,160
Common stock	431,200	343,000
Retained earnings	458,640		206,682
Total	$1,337,700		$1,008,910

ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue	$761,382
Less:
Cost of goods sold	$265,502
Operating expenses, excluding depreciation	24,324
Depreciation expense	91,140
Income tax expense	53,469
Interest expense	9,271
Loss on disposal of plant assets	14,700	458,406
Net income	$302,976

Additional information:

1.	New plant assets costing $196,000were purchased for cash during the year.
2.	Old plant assets having an original cost of $112,700and accumulated depreciation of $95,060were sold for $2,940cash.
3.	Bonds payable matured and were paid off at face value for cash.
4.	A cash dividend of $51,018was declared and paid during the year.

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).)