Statement of Cash Flows-Indirect Method The comparative balance sheet of Tru Built Construction Inc. for December 31, 2014 and 2013, is as follows: Dec. 31, 2014 Dec. 31, 2013 Assets Cash $92 $29 Accounts receivable (net) 52 36 Inventories 33 20 Land 75 82 31 Equipment 42 (11) (6) Accumulated depreciation-equipment $192 Total $283 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $36 $29 Dividends payable Common stock, $10 par 19 Paid-in capital in excess of par-common stock 48 22 174 Retained earnings 132 $192 Total $283 The following additional information is taken from the records: 1. Land was sold for $18 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $61 credit to Retained Earnings for net income. 6. There was a $19 debit to Retained Earnings for cash dividends declared