The net changes in the balance sheet accounts of Eusey, Inc. for the year 2018 are shown below: Account Debit Credit Cash $ 119,700 Accounts receivable $ 89,000 Allowance for doubtful accounts 11,000 Inventory 197,300 Prepaid expenses 18,500 Long-term investments 145,000 Land 405,000 Buildings 650,000 Machinery 100,000 Equipment 28,400 Accumulated depreciation: Buildings 24,300 Machinery 20,800 Equipment 12,500 Accounts payable 183,600 Accrued liabilities 72,100 Dividends payable 128,000 Premium on bonds 36,000 Bonds payable 900,000 Preferred stock ($50 par) 60,000 Common stock ($510 par) 156,000 Additional paid-in capitalcommon 223,200 Retained earnings 87,200 $1,833,800 $1,833,800 Additional information: 1. Net income $140,000 2. Cash dividends of $128,000 were declared December 15, 2018, payable January 15, 2019. A 5% stock dividend was issued March 31, 2018, when the market value was $22.00 per share. 3. The long-term investments were sold for $140,000. 4. A building and land which cost $480,000 and had a book value of $350,000 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 160,000 Accumulated DepreciationMachinery 40,000 Machinery 60,000 Cash 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. 8. The company sold 12,000 shares of its common stock ($10 par) on June 15, 2018 for $25 a share.

There were 87,600 shares outstanding on December 31, 2018. 9. Bonds were sold at 104 on December 31, 2018. 10. Land that was condemned had a book value of $242,500. Proceeds received totaled $108,000.

Prepare a statement of cash flows (indirect method). Ignore tax effects