The comparative balance sheet of Contemporary Milworks, Inc. for December 31, 2006 and 2005, is as follows: Dec. 31, 2006 50 24 32 Dec. 31, 2005 Assets s 16 32 19 50 Inventories Land Equipment Total Liabilities and Stockholders' Equity $ 17 s 20 Accounts payable (merchandise creditors) . Dividends payable . . . Paid-in capital in excess of par-common stock Retained earnings 20 120 ....$162 10 94 Total . The following additional information is taken from the records: a. Land was sold for $13. b. Equipment was acquired for cash. c. There were no disposals of equipment during the year. dThe common stock was issued for cash. e. There was a $30 credit to Retained Earnings for net income. f. There was a $4 debit to Retained Earnings for cash dividends declared. Q Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities