Use the following data for Hines Music Company to prepare a statement of cash flows

using the indirect method for the year ended June $30,2010.$

Hines Music Company

Comparative Balance Sheets

June $30,2010$ and $2009$

Stockholders' Equity

Additional information:

A plant asset costing $$40,000$ was sold for its book value of $$16,000.$

A long$-$term investment was sold for $$9,000.$

The outstanding notes are long$-$term. A $$16,000$ note was issued during $2010.$