Condensed financial data of Norway Company appear below:

Additional information:
1. New plant assets costing \(\$ 92,000\) were purchased for cash during the year.
2. Investments were sold at cost.
3. Plant assets costing \(\$ 47,000\) were sold for \(\$ 15,550\), resulting in a gain of \(\$ 8,750\).
4. A cash dividend of \(\$ 78,400\) was declared and paid during the year.
\section*{Instructions}
Prepare a statement of cash flows using the indirect method.

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Cash NORWAY COMPANY Comparative Balance Sheet December 31 Assets Accounts receivable Inventories 1996 1995 $ 96,700 86,800 $ 47,250 121,900 57,000 102,650