The comparative balance sheet of Hinson Enterprises, Inc. at December 31, 2013 and 2012, is as follows: Image for Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activitie

The comparative balance sheet of Hinson Enterprises, Inc. at December 31, 2013 and 2012, is as follows:

Dec. 31,2013 Dec. 31, 2012 Assets 128,275 196,525 281,400 11,725 573,125 $157,325 211,750 261,800 8,400 469,875 1,041,600 $993,475 Liabilities and Stockholders' Equity 91,000 455,000 276,675 1,041,600 $207,900 294,000 21,000 280,000 190,575 $993,475 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2013 are as follows: a. Net income, $220,500 b. Depreciation reported on the income statement, $72,975 C. Equipment was purchased at a cost of $142,450, and fully depreciated equipment costing $39,200 was discarded, with no salvage realized d. The mortgage note payable was not due until 2014, but the terms permitted earlier payment without penalty e. 7,000 shares of common stock were issued at $35 for cash f. Cash dividends declared and paid, $134,400