The comparative balance sheet of Juras Equipment Co. for December 31, 2013 and 2012, is as follows:

PR 16-1B  

The comparative balance sheet of Juras Equipment Co. for December 31, 2013 and 2012, is as follows:

       and so on..................

The income statement for the year ended December 31, 2013, is as follows:

      and so on..................

The following additional information was taken from the records of Juras Equipment:

1.   Equipment and land were acquired for cash.

2.   There were no disposals of equipment during the year.

3.   The investments were sold for $129,600 cash. 

4.   The common stock was issued for cash.

5.   There was a $228,960 credit to Retained Earnings for net income.

6.   There was a $144,000 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.