The condensed financial statements of Oriole Inc., a private company following ASPE appear below:

ORIOLE INC. Balance Sheet December 31
Assets	2024	2023
Cash	$103,213	$ 41,050
Accounts receivable	78,000	62,000
Inventory	120,300	123,700
Prepaid expenses	12,500	6,200
Long-term investment	54,180	46,000
Property, plant, and equipment	245,000	240,000
Accumulated depreciation	(74,500)	(72,000)
	$538,693	$446,950
Liabilities and Shareholders' Equity
Accounts payable	$ 42,100	$ 41,000
Accrued expenses payable	16,881	15,500
Income tax payable	1,250	1,750
Bonds payable	95,000	110,000
Common shares	150,000	150,000
Retained earnings	233,462	128,700
	$538,693	$446,950

ORIOLE INC. Income Statement Year Ended December 31, 2024
Sales		$ 621,540
Cost of goods sold		345,000
Gross profit		276,540
Operating expenses	$38,500
Depreciation expense	46,500
Loss on disposal of equipment	7,150	92,150
Profit from operations		184,390
Less: Interest expense	2,730
Add: Gain on disposal of long-term investment	4,000	1,270
Profit before income tax		185,660
Income tax expense		55,698
Profit for the year		$ 129,962

Additional information:

New equipment costing $71,000 was purchased for cash during the year.

A long-term investment was sold for cash of $9,820 resulting in a gain of $4,000. A long-term investment was also purchased during the year. The fair value of the investment equalled its carrying amount at year end.

A cash dividend of $25,200 was declared and paid during the year.

Accounts payable relate only to merchandise creditors.

Interest expense was paid in cash during the year.

Bonds were redeemed during the year at their amortized cost.

Instructions

Prepare a cash flow statement using the indirect method.