The statement of financial position of Tru-Built Construction Inc. for December 31, 2015 and 2014 (all figures are in $000s), 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 shares were 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 operating activities.

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Dec. 31, 2015 Dec. 31, 2014 Assets $ 98 $ 32 40 Cash... Accounts receivable (net) Inventories. 56 35 22 Equipment.. Accumulated depreciation-equipment Land... 45 (12) 35 (6) 80 90 $302 Total.. $213 Liabilities and Shareholders' Equity $ 35 $ 32 Accounts payable (merchandise creditors). . Dividends payable.. Common shares .. ..... .... 6 70 35 Retained earnings 191 146 Total.. $302 $213 ......