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

Additional information:
1. Operating expenses include depreciation expense of $42,000.
2. Land was sold for cash at book value.
3. Cash dividends of $12,000 were paid.
4. Net income for 2014 was $37,000.
5. Equipment was purchased for $92,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $8,000 cash.
6. 40,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $40,000.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirectmethod.

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YANIK COMPANY Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total 2014 2013 68,000 50,000 151,450 15,280 145,000 200,000 (60,000) 225,000 (45,000) $749,730 45,000 58,000 142,000 21,000 130,000 200,000 (40,000) 155,000 (35,000) $676,000 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total 44,730 300,000 200,000 205,000 $749,730 36,000 300,000 160,000 180,000 $676,000