The statement of financial position of House Construction Co. for June 30, 2015 and 2014, is as follows:

The following additional information was taken from the records of House Construction Co.:
a. Equipment and land were acquired for cash.
b. There were no disposals of equipment during the year.
c. The investments were sold for $54,000 cash.
d. The common shares were issued for cash.
e. There was a $79,200 credit to Retained Earnings for net income.
f. There was a $60,000 debit to Retained Earnings for cash dividends declared.
Instructions
Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities. The use of the spreadsheet is optional.

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June 30, 2015 June 30, 2014 Assets $ 41,600 $ 28,200 Cash.... Accounts receivable (net) 121.900 110,700 Inventories.. 175,600 170,500 Investments.. Equipment... Accumulated depreciation.. Land... 60.000 258.000 210.600 (49,600) (58,300) 174,000 $712,800 $530,400 Liabilities and Shareholders' Equity Accounts payable (merchandise creditors).... Accrued expenses payable (operating expenses).. Dividends payable . Common shares Retained earnings $121,000 $114, 200 18.000 15,800 15.000 331,200 12.000 180,000 227,600 208,400 $712.800 $530.400