Sunnyvale Corporation prepared the following balance sheet data for 2013 and 2012:
..................................................... Dec. 31, 2013 .................. Dec. 31, 2012
Cash and cash equivalents . . . . . . . . . . . . . . . . $ 518,500 .................. $ 675,000
Accounts receivable . . . . . . . . . . . . . . . . . . . . . 360,000 ...................... 345,000
..................................................... Dec. 31, 2013 ................... Dec. 31, 2012
Merchandise inventory . . . . . . . . . . . . . . . . . 750,000 .......................... 654,000
Prepaid insurance . . . . . . . . . . . . . . . . . . . . . . 4,500 ............................... 6,000
Buildings and equipment . . . . . . . . . . . . . . . 5,515,500 ...................... 4,350,000
Accumulated depreciation-buildings and equipment. . . . (2,235,000) .... (1,995,000)
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,913,500 ...................... $ 4,035,000
Accounts payable . . . . . . . . . . . . . . . . . . . . $ 613,500 .......................... $ 945,000
Salaries payable . . . . . . . . . . . . . . . . . . . . . . . 75,000 ............................... 105,000
Notes payable-bank (current) . . . . . . . . . . 150,000 ............................... 600,000
Notes payable-bank (long-term) . . . . . . . 1,500,000 .................................... -
Common stock . . . . . . . . . . . . . . . . . . . . . . 2,400,000 .......................... 2,400,000
Retained earnings (deficit) . . . . . . . . . . . . . 175,000 .............................. (15,000)
Total liabilities and stockholders' equity. . $ 4,913,500 .................... $ 4,035,000
Cash needed to purchase new equipment and to improve the company's working capital position was raised by borrowing from the bank with a long-term note. Equipment costing $75,000 with a book value of $15,000 was sold for $18,000; the gain on the sale was included in net income. The company paid cash dividends of $90,000 and reported earnings of $280,000 for 2013. There were no entries in the retained earnings account other than to record the dividends and net income for the year.
Prepare a statement of cash flows for 2013 using the indirect method?