*USING THE INDIRECT METHOD*

The following information is available for the Eldridge Company: Eldridge Company Balance Sheets Al December 31 2011 -2010 Assets: Cash Accounts receivable Merchandise inventory Long-lerm investments.. S 29,568 S 27,648 38,616 35,280 87,750 74,052 67,08067.680 210,600 174,600 -(40.269) 37.440 393,354 $341820 Machinery Accumulated depreciation Total assets Liabilities Accounts payable Income taxes payable Bonds payable . Total liabilities... S 78.000 S48.456 12.870 12.240 58.500 79.200 $149,370 S139,896 Equity Common stock Contributed capital in excess of par Retained earnings 140400 115,200 15,600 10,80 s243.84 $201.924 S393 34 $341.820 Total equity Total liabilties and equity Eldridge Company Income Statement For Year Ended December 31. 2011 $288000 Cost of goods sold Depreciation expense Oxher operaling expenses Interest expense Other gains lonses $97,080 35.280 57.600 2400 1192.560) Loss on sale of equapment Income hefore tases Income taes oxpensc Net incoe 85.560 33180 Additional information: (1) There was no gain or loss on the sales of the long-term investments, nor on the bonds retired. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash. (3) New machinery was purchased for $81,060 cash. (4) Cash dividends of $40 320 were paid (5) Additional shares of stock were issued for cash. Prepare a complete statement of cash flows for calendar-year 2011 using the indirect method