The comparative balance sheets for Rothlisberger Company as of December 31 are presented below.

Additional information:
1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $5,720.
2. Land was sold for cash at book value.
3. Cash dividends of $20,000 were paid.
4. Net income for 2014 was $42,000.
5. Equipment was purchased for $88,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $6,000 cash.
6. Bonds were converted at face value by issuing 40,000 shares of $1 par value common stock.

Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirectmethod.

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ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation -buildings Equipment Accumulated depreciation-equipment 2014 81,000 41,000 151,450 15,280 105,000 200,000 (60,000) 221,000 (45,000) $709,730 2013 45,000 62,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $680,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings S 47,730 260,000 200,000 202,000 $709,730 40,000 300,000 160,000 180,000 $680,000