Selected financial statement information and additional data for XYZ Corporation is presented below.

ABC Corporation

Balance Sheet and Income Statement Data

December 31, December 31,

2014 2013___

Current Assets:

Cash $143,000 $119,000

Accounts Receivable 228,000 306,000

Inventory 391,000 340,000

Total Current Assets 762,000 765,000

Property, Plant, and Equipment 1,261,000 1,122,000

Less: Accumulated Depreciation (476,000) (442,000)

Total Assets $1,547,000 $1,445,000

Current Liabilities:

Accounts Payable $187,000 $102,000

Notes Payable 51,000 68,000

Income Taxes Payable 85,000 76,500

Total Current Liabilities 323,000 246,500

Bonds Payable 350,000 391,000

Total Liabilities 673,000 637,500

Stockholders' Equity:

Common Stock 510,000 467,500

Retained Earnings 364,000 340,000

Total Stockholders' Equity 874,000 807,500

Total Liabilities & Stockholders' Equity $1,547,000 $1,445,000

Sales Revenue 1,615,000 $1,513,000

Less Cost of Goods Sold 781,000 731,000

Gross Profit 834,000 782,000

Expenses:

Depreciation Expense 153,000 136,000

Salaries and Wages Expense 391,000 357,000

Interest Expense 34,000 34,000

Loss on Sale of Equipment 12,000 0

Income Before Taxes 244,000 255,000

Less Income Tax Expense 98,000 102,000

Net Income $146,000 $153,000

Additional Information:

During the year, ABC Corporation had the following transactions:

a.Sold equipment for $2,000. The original cost of the equipment was $133,000 and the related balance in the accumulated depreciation account totaled $119,000.

b.Purchased new equipment and paid $272,000 in cash.

Prepare a statement of cash flows for the year ended December 31, 2014.