Odgers Inc. - Statement of Cash Flows

Condensed financial data of Odgers Inc. follow.

ODGERS INC. Comparative Balance Sheets December 31
Assets	2014	2013
Cash	$ 98,576	$ 59,048
Accounts receivable	107,116	46,360
Inventory	137,250	125,477
Prepaid expenses	34,648	31,720
Long-term investments	168,360	132,980
Plant assets	347,700	295,850
Accumulated depreciation	(61,000	)	(63,440	)
Total	$832,650		$627,995
Liabilities and Stockholders’ Equity
Accounts payable	$ 124,440	$ 82,106
Accrued expenses payable	20,130	25,620
Bonds payable	134,200	178,120
Common stock	268,400	213,500
Retained earnings	285,480		128,649
Total	$832,650		$627,995

ODGERS INC. Income Statement Data For the Year Ended December 31, 2014
Sales revenue	$473,921
Less:
Cost of goods sold	$165,261
Operating expenses, excluding depreciation	15,140
Depreciation expense	56,730
Income taxes	33,282
Interest expense	5,771
Loss on disposal of plant assets	9,150	285,334
Net income	$ 188,587

Additional information:

1.	New plant assets costing $122,000 were purchased for cash during the year.
2.	Old plant assets having an original cost of $70,150 and accumulated depreciation of $59,170 were sold for $1,830 cash.
3.	Bonds payable matured and were paid off at face value for cash.
4.	A cash dividend of $31,756 was declared and paid during the year.

Further analysis reveals that accounts payable pertain to merchandise creditors.

Prepare a statement of cash flows for Odgers Inc. using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

ODGERS INC. Statement of Cash Flows For the Year Ended December 31, 2014
Cash Flows from Operating Activities<br>
Cash Receipts from Customers	$
Less: Cash Payments
To Suppliers	$
For Operating Expenses
For Income Taxes	33282
For Interest	5771

Net Cash Provided by Operating Activities<br>
Cash Flows from Investing Activities
Sale of Plant Assets	1830
Purchase of Investments	-35380
Purchase of Plant Assets	-122000
Net Cash used by Investing Activities<br>	-155550
Cash Flows from Financing Activities
Sale of Common Stock	54900
Redemption of Bonds
Payment of Cash Dividends	-31756
Net Cash used by Financing Activities<br>
Net Increase in Cash<br>
Cash at Beginning of Period<br>	59048
Cash at End of Period

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