The following information is available for the brookstone company

Brookstone company

Balance sheet

At December 31

Year 1 year 2

Assets

Cash 29568 27648

Accounts receivable 38616 35280

Merchandise inventory 87750 74052

Long term investments 67080 67680

Machinery 210600 174600

Accumulated depreciation (40260) (37440)

Total assets 393354 341820

Liabilities

Accounts payable 78000 48456

Income taxes payable 12870 12240

Long term bonds payable 58500 79200

Total liabilities 149370 139869

Equity

Common stock 140400 115200

Paid in capital in excess of par 15600 10800

Retained earnings 87984 75924

Total equity 243984 201924

Total liabilities and equity 393354 341820

Brookstone company

Income statement

For year ended december 31 year 2

Sales 288000

Cost of goods sold 97080

Depreciation expense 35280

Other operating expense 57600

Interest expense 2400 (192360)

Other gains (losses)

Income before tax 85560

Income taxes expense 33180

Net income 52380

Additional information:

(1) There was no gain or loss on the sales of the long term investments nor on the bonds retired (2) old machinery with an original cost of 45060 was sold for 2520 cash (3)new machinery was purchased for 81060 cash (4) cash dividends of 40320 were paid (5) additional shares of stock were issued for cash

Prepare a complete statement of cash flows for year 2 using the indirect method.