The comparative balance sheets for Nelson Company appear below:

Additional information:
1. Net income for the year ending December 31, 2012, was $20,000.
2. Cash dividends of $12,000 were declared and paid during the year.
3. Long-term investments that had a book value of $18,000 were sold for $13,000.
4. Sales for 2012 are $120,000.
5. Issued new common stock of $50,000 in exchange for new equipment

Instructions
Prepare a statement of cash flows for the year ended December 31, 2012, using the indirectmethod.

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Comparative Balance Sheet Dec. 31, 2012 Dec. 31, 2011 Assets Cash Accounts receivable Prepaid expenses Inventory Long-term investments Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock Retained eamings Total liabilities and stockholders' equity S 30,000 16,000 7,000 25,000 S13.000 14,000 9.000 15.000 18,000 30,000 (14,000) 85,000 110,000 (18,000) S170,000 S 25,000 37,000 90,000 18,000 S170,000 S7,000 45,000 23,000 10,000 85,000