The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$ 166,000
Cash dividends declared for the year	56,000
Proceeds from the sale of equipment	91,000
Gain on the sale of equipment	9,000
Cash dividends payable at the beginning of the year	28,000
Cash dividends payable at the end of the year	52,000
Net income for the year	102,000