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Condensed financial data of Odgers Inc. follow.

ODGERS INC.
Comparative Balance Sheets
December 31
Assets
 
2014
  
2013
 
Cash 
$ 199,576
  
$ 119,548
 
Accounts receivable 
216,866
  
93,860
 
Inventory 
277,875
  
254,040
 
Prepaid expenses 
70,148
  
64,220
 
Long-term investments 
340,860
  
269,230
 
Plant assets 
703,950
  
598,975
 
Accumulated depreciation 
(123,500
)
 
(128,440
)
Total 
$1,685,775
  
$1,271,433
 
       
Liabilities and Stockholders’ Equity
      
Accounts payable 
$ 251,940
  
$ 166,231
 
Accrued expenses payable 
40,755
  
51,870
 
Bonds payable 
271,700
  
360,620
 
Common stock 
543,400
  
432,250
 
Retained earnings 
577,980
  
260,462
 
Total 
$1,685,775
  
$1,271,433
 

 

ODGERS INC.
Income Statement Data
For the Year Ended December 31, 2014
Sales revenue   
$959,496
Less:    
     Cost of goods sold 
$334,586
  
     Operating expenses, excluding depreciation 
30,653
  
     Depreciation expense 
114,855
  
     Income tax expense 
67,382
  
     Interest expense 
11,683
  
     Loss on disposal of plant assets 
18,525
 
577,684
Net income   
$ 381,812


Additional information:

1. New plant assets costing $247,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $142,025 and accumulated depreciation of $119,795 were sold for $3,705 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $64,294 was declared and paid during the year.


Prepare a statement of cash flows using the indirect method. 

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