The records of Beta Company provided the following data for the accounting period ended December 31, 2010. Comparative Statement of Financial Position as December 31,. Assets 2009 2010 $ $ Cash 30,000 75,000 Investment, short term 10,000 8,000 Accounts receivable 56,000 86,000 Inventory 20,000 30,000 Prepaid interest 0 2,000 Land 60,000 25,000 Machinery 80,000 90,000 Accumulated Depreciation (20,000) (26,900) Other assets 29,000 39,000 265,000 328,100 Liabilities & Stockholders Equity Accounts payable 39,000 54,000 Salaries payable 5,000 2,000 Income taxes payable 2,000 8,000 Bond payable 70,000 55,000 Common shares 100,000 130,000 Preferred shares 20,000 30,000 Retained earnings 29,000 49,100 265,000 328,100 Income Statement For the year ended December 31, 2010. $ Sales revenue 180,000 Cost of goods sold (90,000) Depreciation Expense (6,900) Salaries (33,900) Interest expense (6,000) Other expenses (4,000) Gain on sale of land 18,000 Income tax expense (12,100) Net income 45,100 Additional Information: a. Issued bonds payable for cash, $5,000 b. Sold Land for $53,000 cash; book value,$35,000 c. Purchased machinery for cash, $10,000 d. Retired $20,000 bonds payable by issuing common shares; the common shares had a market value of $20,000 e. Acquired other assets by issuing preferred shares with a market value of $10,000 Statement of Retained earning Balance, January 1, 2010 $29,000 Net income for 2010 45,100 Cash dividends (15,000) Stock dividend issue (10,000) Balance, December 31, 2010 49,100 Required Prepare the Statement of Cash flows for the year to December 31, 2010 using the direct method