The following are Sullivan Corp.s comparative balance sheet accounts at December 31, 2014 and 2013, with a column showing the increase (decrease) from 2013 to 2014. COMPARATIVE BALANCE SHEETS 2014 2013 Increase (Decrease) Cash $815,860 $700,770 $115,090 Accounts receivable 1,127,700 1,168,700 (41,000 ) Inventory 1,849,400 1,715,000 134,400 Property, plant, and equipment 3,307,300 2,967,300 340,000 Accumulated depreciation (1,164,400 ) (1,039,900 ) (124,500 ) Investment in Myers Co. 309,570 275,120 34,450 Loan receivable 249,500 249,500 Total assets $6,494,930 $5,786,990 $707,940 Accounts payable $1,015,100 $956,000 $59,100 Income taxes payable 29,040 49,530 (20,490 ) Dividends payable 80,760 99,920 (19,160 ) Lease liabililty 400,260 400,260 Common stock, $1 par 500,000 500,000 Paid-in capital in excess of parcommon stock 1,499,400 1,499,400 Retained earnings 2,970,370 2,682,140 288,230 Total liabilities and stockholders equity $6,494,930 $5,786,990 $707,940 Additional information: 1. On December 31, 2013, Sullivan acquired 25% of Myers Co.s common stock for $275,120. On that date, the carrying value of Myerss assets and liabilities, which approximated their fair values, was $1,100,480. Myers reported income of $137,800 for the year ended December 31, 2014. No dividend was paid on Myerss common stock during the year. 2. During 2014, Sullivan loaned $300,010 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $50,510, plus interest at 10%, on December 31, 2014. 3. On January 2, 2014, Sullivan sold equipment costing $60,260, with a carrying amount of $36,940, for $39,990 cash. 4. On December 31, 2014, Sullivan entered into a capital lease for an office building. The present value of the annual rental payments is $400,260, which equals the fair value of the building. Sullivan made the first rental payment of $59,920 when due on January 2, 2015. 5. Net income for 2014 was $368,990. 6. Sullivan declared and paid cash dividends for 2014 and 2013 as shown below. 2014 2013 Declared December 15, 2014 December 15, 2013 Paid February 28, 2015 February 28, 2014 Amount $80,760 $99,920 Prepare a statement of cash flows for Sullivan Corp. for the year ended December 31, 2014, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SULLIVAN CORP. Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ $