The comparative balance sheets for Hinckley Corporation show the following information. December 31 2014 2013 Cash $55,800 $19,000 Accounts receivable 56,000 51,000 Inventory 81,600 84,000 Investments 0 42,000 Buildings 0 180,000 Equipment 195,000 120,000 Patents 25,000 30,000 $413,400 $526,000 Allowance for doubtful accounts $5,000 $4,500 Accumulated depreciationequipment 45,000 20,000 Accumulated depreciationbuilding 0 46,000 Accounts payable 76,000 74,000 Dividends payable 6,000 12,000 Notes payable, short-term (nontrade) 10,000 6,000 Long-term notes payable 50,000 260,000 Common stock 68,000 50,000 Retained earnings 153,400 53,500 $413,400 $526,000 Additional data related to 2014 are as follows. 1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $2,000. 2. $18,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $12,000. 4. On January 1, 2014, the building was completely destroyed by a flood. Insurance proceeds on the building were $245,000 (net of $22,000 taxes). 5. Investments (available-for-sale) were sold at $2800 below their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $20,000 was issued for the acquisition of equipment.

Prepare the statement of cash flows by using indirect method.