Problem 5-7 (Part Level Submission) Aero Inc. had the following balance sheet at December 31, 2013.

AERO INC. BALANCE SHEET DECEMBER 31, 2013

Cash $ 23,030

Accounts payable $ 33,030

Accounts receivable 24,230

Bonds payable 44,030

Investments 32,000

Common stock 103,030

Plant assets (net) 84,030

Retained earnings 26,230

Land 43,030

During 2014, the following occurred.

1. Aero liquidated its available-for-sale investment portfolio at a loss of $8,030.

2. A tract of land was purchased for $41,030.

3. An additional $30,000 in common stock was issued at par.

4. Dividends totaling $13,030 were declared and paid to stockholders.

5. Net income for 2014 was $38,030, including $15,030 in depreciation expense.

6. Land was purchased through the issuance of $33,030 in additional bonds.

7. At December 31, 2014, Cash was $73,230, Accounts Receivable was $45,030, and Accounts Payable was $43,030.

Prepare a statement of cash flows for the year 2014 for Aero. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)