The comparative balance sheet of Reston Supply Co. at December 31, 2008 and 2007, is as follows:

The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2008 are as follows:

Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operatingactivities.

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Dec. 31, 2008 Dec. 31, 2007 Assets Cash Accounts receivable (net) .__. Inventories .. 45,500 106,700 139,200 2,800 150,000 300,000 (60,200) 100,100 (20,200) $763,900 51,200 92,400 131,200 4,000 210,000 150,000 (55,500) 80,300 (24,500) 639,100 Land Liabilities and Stockholders' Equity $ 90,000 4,000 50,000 33,000 180,000 406,900 763,900 95,600 3,200 0 30,000 120,000 390,300 $639,100 ACCOUNT Land ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2008 Jan. Apr 20 Realized $69,000 cash 1Balance 210,000 from sale 60,000 150,000 ACCOUNT Buildings 2008 Jan Apr. 20Acquired for cash ACCOUNT NO 1Balance 150,000 300,000 150,000 ACCOUNT Accumulated Depreciation-Buildings 2008 Jan. Dec. 3 Depreciation for year ACCOUNT NO 1Balance 55,500 60,200 4,700 ACCOUNT Equipment 2008 Jan ACCOUNT NO 1Balance 80,300 70,300 100,100 26 Discarded, no salvage 10,000 Aug. 1Purchased for cash 29,800 ACCOUNT Accumulated Depreciation-Equipment 2008 Jan ACCOUNT NO 1Balance 26 Equipment discarded 24,500 14,500 20,200 10,000 Dec. 31 Depreciation for year 5,700 ACCOUNT Bonds Payable 2008 May ACCOUNT NO 1Issued 20-year bonds 50,000 50,000 ACCOUNT Common Stock, $1 par ACCOUNT NO 2008 Jan Dec. 1Balance 7 Issued 3,000 shares of common 30,000 stock for $21 per share 3,000 33,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock 2008 Jan. Dec. ACCOUNT NO 1Balance 120,000 7 Issued 3,000 shares of common stock for $21 per share 60,000 180,000 ACCOUNT Retained Earnings 2008 Jan Dec. 31 Net income ACCOUNT NO 1Balance 390,300 418,900 406,900 28,600 31 Cash dividends 12,000