The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2014 and 2013, is shown as follows:

	Dec. 31, 2014	Dec. 31, 2013
Assets
Cash	$245,960		$227,750
Accounts receivable (net)	89,100		81,800
Inventories	251,540		242,170
Investments	0		93,830
Land	129,010		0
Equipment	277,520		214,120
Accumulated depreciation-equipment	(64,970)		(57,740)
	Total	$928,160		$801,930
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$168,000		$157,980
Accrued expenses payable (operating expenses)	16,710		20,850
Dividends payable	9,280		7,220
Common stock, $10 par	50,120		39,290
Paid-in capital in excess of par-common stock	188,420		109,060
Retained earnings	495,630		467,530
	Total	$928,160		$801,930

The following additional information was taken from the records:

1. The investments were sold for $109,780 cash.
2. Equipment and land were 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 $65,790 credit to Retained Earnings for net income.
6. There was a $37,690 debit to Retained Earnings for cash dividends declared.

Required:

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Prepare a statement of cash flows, using the indirect method of presentingcash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required.