The net changes in the balance sheet accounts of Eusey, Inc. for the year 2011 are shown below: Account Debit Credit Cash dr $ 265,600 Accounts receivable cr $ 64,000 Allowance for doubtful accounts cr 14,000 Inventory dr 287,200 Prepaid expenses dr 40,000 Long-term investments cr 144,000 Land dr 300,000 Buildings dr 600,000 Machinery dr 100,000 Office equipment cr 28,000 Accumulated depreciation: Buildings cr 24,000 Machinery dr 20,000 Office equipment dr 12,000 Accounts payable dr 233,200 Accrued liabilities cr72,000 Dividends payable cr 128,000 Bonds payable cr 940,000 Preferred stock ($50 par) dr 60,000 Common stock ($10 par) cr 156,000 Additional paid-in capitalcommon cr 247,200 Retained earnings cr 60,800 Totals $1,898,000 $1,898,000 Additional information: 1.Unaudited Income Statement Data for Year Ended December 31, 2011 Income before extraordinary items $420,000 Extraordinary losses: Condemnation of land $132,000 Loss from redemption of preferred stock 20,000 (152,000) Net income $268,000 2. Cash dividends of $128,000 were declared December 15, 2011, payable January 15, 2012. A 5% stock dividend was issued March 31, 2011, when the market value was $22.00 per share. 3. The long-term investments were sold at a $4,000 loss. 4. A building and land which cost $480,000 and had a book value of $300,000 were sold for $400,000. The cost of the land, included in the cost and book value above, was $20,000. 5. The following entry was made to record an exchange of an old machine for a new one: Machinery dr 160,000 Accumulated DepreciationMachinery dr 40,000 Machinery cr 60,000 Bonds Payable cr 140,000 6. A fully depreciated copier machine which cost $28,000 was written off. 7. Preferred stock of $60,000 par value was redeemed for $80,000; the loss was charged against earnings. 8. The company issued 12,000 shares of its common stock on June 15, 2011 for $27 a share. A $2 per share broker underwriting fee was recognized as part of Professional Fees Expense in the operating section of the income statement. There were 87,600 shares outstanding on December 31, 2011. 9. Bonds were issued at 104 on December 31, 2011. The premium was credited to Interest Revenue. 10. Land that was condemned had a book value of $240,000. Requirements: 1. Prepare a properly formatted and complete statement of cash flows using the indirect method. Ignore tax effects.