Traynham Company runs a retail company and recently completed its third year of operations. The balance sheet and income statement follow: 2014 $53,000 21,000 2013 $58,100 Assets Cash Accounts receivable Income Statement for 2014 Sales revenue $337,400 24,300 Cost of goods sold 204,000 Inventory 30,800 29,200 4,300 Depreciation expense Other expenses 123,000 92,000 87,000 Income taxes 14,500 28,500 $199.300 24,200 $179.400 Net income $27,600 Additional Information on Year 2014 Transactions $36,300 $33,000 Purchased equipment by paying signing a long-term note for $8,000 and paying cash for the balance 11,000 8,000 Paid cash as a payment on the long-term notes payable Equipment Accumulated depreciation Total assets Liabilities and Equity Accounts payable Income taxes payable Long-term notes payable Common stock, $2 par Paid-in capital in excess of par Retained earnings Total liabilities and equity 28,000 36,000 Issued 100 shares of common stock for cash 15,000 12,000 Declared and paid cash dividends of $16,000 38,000 31,000 71,000 59,400 Instructions: Prepare a statement of cash flows for 2014 using the indirect method. $199,300 $179,400