The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2010 and 2009, is shown as follows:

		Dec. 31, 2010		Dec. 31, 2009
Assets
Cash		$261,800		$241,570
Accounts receivable (net)		94,840		86,760
Inventories		267,710		256,870
Investments		0		99,520
Land		137,320		0
Equipment		295,390		227,110
Accumulated depreciation-equipment		(69,150)		(61,240)
	Total	$987,910		$850,590
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)		$178,810		$167,570
Accrued expenses payable (operating expenses)		17,780		22,120
Dividends payable		9,880		7,660
Common stock, $10 par		53,350		41,680
Paid-in capital in excess of par-common stock		200,550		115,680
Retained earnings		527,540		495,880
	Total	$987,910		$850,590

The following additional information was taken from the records:

The investments were sold for $116,440 cash.

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The common stock was issued for cash.

There was a $71,640 credit to Retained Earnings for net income.

There was a $39,980 debit to Retained Earnings for cash dividends declared.

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use a minus sign to indicate cash outflows.

MAVENIR TECHNOLOGIES INC. Statement of Cash Flows For the Year Ended December 31, 2010
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net cash flow from operating activities:
SelectDecrease in accounts receivableIncrease in accounts receivableDepreciationLoss on sale of investmentsItem 2
SelectLoss on sale of investmentsIncrease in accounts payableGain on sale of investmentsDecrease in inventoriesItem 4
Changes in current operating assets and liabilities:
SelectDecrease in inventoriesIncrease in accounts receivableDepreciationDecrease in accounts receivableItem 6
SelectDecrease in accounts receivableDecrease in inventoriesDecrease in accounts payableIncrease in inventoriesItem 8
SelectIncrease in accounts payableDecrease in inventoriesDecrease in accounts payableIncrease in accrued expensesItem 10
SelectDepreciationIncrease in accrued expensesDecrease in accounts payableDecrease in accrued expenses payableItem 12
Net cash flow from operating activities
Cash flows from investing activities:
SelectGain on sale of investmentsCash received from sale of investmentsDepreciationPlus cash paid for purchase of equipmentItem 15
SelectLess cash paid for purchase of landGain on sale of investmentsDepreciationPlus cash paid for purchase of landItem 17
SelectIncrease in inventoriesDecrease in accounts receivablePlus cash paid for purchase of equipmentLess cash paid for purchase of equipmentItem 19
Net cash flow used for investing activities
Cash flows from financing activities:
SelectDepreciationCash received from sale of investmentsCash received from sale of common stockDecrease in accounts payableItem 22
SelectLess cash paid for dividendsPlus cash paid for dividendsDecrease in inventoriesIncrease in accounts receivableItem 24
Net cash flow provided by financing activities
SelectIncreaseDecreaseItem 27 in cash
Cash at beginning of the year
Cash at end of the year