TCO F) The following information is taken from French Corporation's financial statements: December 31 2011/ 2010 Cash $90,000 $ 27,000 Accounts Receivable 92,000 80,000 Allowance for Doubtful Accounts ( 4,500) ( 3,100) Inventory 155,000 175,000 Prepaid Expenses 7,500 6,800 Land 90,000 60,000 Buildings 287,000 244,000 Accumulated Depreciation ( 32,000) (13,000) Patents 20,000 35,000 Total Assets $705,000 $611,700 Accounts Payable $ 90,000 $ 84,000 Accrued Liabilities 54,000 63,000 Bonds Payable 125,000 60,000 Common Stock 100,000 100,000 Retained Earnings - Appropriated 80,000 100,000 Retained Earnings - Unappropriated 271,000 212,700 Treasury Stock, at cost (15,000) ( 8,000) Total Liabilities and Equity $705,000 $611,700 For 2011 Year Net Income $58,300 Depreciation Expense 19,000 Amortization of Patents 5,000 Cash dividends declared and paid 20,000 Gain or Loss on Sale of Patents none Instructions Prepare a statement of cash flows for French Corporation for the year 2011. (Use the indirect method.)