The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31, 2013

Revenue:

Net sales………………………………………..$3,200,000

Interest income………………………………….. . 45,000

Gain on sale of marketable securities…….………...34,000

Total revenue…………………………………..$3,279,000

Costs and expenses:

Cost of goods sold…………………………………………... $1,620,000

Operating expenses (including depreciation of $150,000)….1, 240,000

Interest expense…………………………………………….…...42,000

Income taxes…………………………………………….……....100,000

Loss on sale of plant Assets.....................................................…...12,000

Total Costs and expenses…………………………..………. $3,014,000

Net income………………………………………….…………. $260,000

Changes in the Company’s balance sheet accounts over the year are summarized as follows:

1. Accounts receivable increased by $60,000
2. Accrued interest receivable decreased by $2,000
3. Inventory decreased by $60,000, and Account payable decreased by $16,000
4. Short term prepayments of operating expenses increased by $6,000 and accrued liabilities for operating expenses decreased by $8,000
5. The liability for accrued interest payable increased by $4,000 during the year.
6. The liability for accrued income taxes payable decreased by $14,000 during the year.
7. The following schedule summarizes the total debit and credit entries during the year:

 

Selected account balances:

	Debit entries	Credit entries
Marketable securities	$60,000	$38,000
Notes receivable	44,000	28,000
Plant assets	500,000	36,000
Notes payable	92,000	82,000
Capital Stock		20,000
Additional Paid-in capital		160,000
Retained earnings	120,000	260,000

 

8. The $ 36,000 in credit entries to the plant assets account is net of any debits to Accumulated depreciation when plant assets were retired. Thus the $36,000 in credit entries represents the book value of all plant assets sold or retired during the year
9. The $ 120,000 debit to the retained earnings represents the dividends declared and paid during the year. The $ 260,000 credit entry represents the net income shown in the income statement
10. All investing and financing activities were cash transactions.
11. Cash and cash equivalents amounted to $244,000 at the beginning of the year and to $164,000 at the end of the year.

Prepare a partial statement of cash flows including the operating activities, investing activities and financing section of the statement. 

1.