The comparative balance sheet of Tru-Built Construction Inc. for December 31, 2010 and
2009, is as follows:

The following additional information is taken from the records:
a. Land was sold for $25.
b. Equipment was acquired for cash.
c. There were no disposals of equipment during the year.
d. The common stock was issued for cash.
e. There was a $65 credit to Retained Earnings for net income.
f. There was a $20 debit to Retained Earnings for cash dividends declared.
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operatingactivities.

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Dec. 31, 2010 Dec. 31, 2009 Assets $ 98 Cash Accounts receivable (net). $ 32 56 40 Inventories. 35 22 Land 80 90 Equipment Accumulated depreciation-equipment . Total.... 45 35 (12) (6) $302 $213 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors). Dividends payable.... Common stock, $1 par. Paid-in capital in excess of par-common stock Retained earnings. $ 35 6. $ 32 20 10 50 25 191 146 Total.. $302 $213