XYZ Corporation_Cash flow statement

Selected financial statement information and additional data for XYZ Corporation is presented below.

                                                                        ABC Corporation

                                                Balance Sheet and Income Statement Data

                                                                                                                                                                                                                         December 31,       December 31,                    

                                                                                    2014                        2013___

Current Assets:

Cash                                                          $143,000                       $119,000

Accounts Receivable                                   228,000                         306,000

Inventory                                                      391,000                         340,000

Total Current Assets                                                    762,000                         765,000

Property, Plant, and Equipment                                                   1,261,000                      1,122,000

Less: Accumulated Depreciation                                                (476,000)                    (442,000)

Total Assets                                              $1,547,000                   $1,445,000

Current Liabilities:

Accounts Payable                                $187,000                       $102,000

Notes Payable                                         51,000                           68,000

Income Taxes Payable                            85,000                           76,500

Total Current Liabilities                             323,000                         246,500

Bonds Payable                                          350,000                         391,000

Total Liabilities                                          673,000                         637,500

Stockholders' Equity:

Common Stock                                   510,000                         467,500

Retained Earnings                              364,000                         340,000

Total Stockholders' Equity                                                        874,000                         807,500

Total Liabilities & Stockholders' Equity                                                     $1,547,000                   $1,445,000

Sales Revenue                                        1,615,000                   $1,513,000

Less Cost of Goods Sold                                                           781,000                         731,000

Gross Profit                                                834,000                         782,000

Expenses:

Depreciation Expense                          153,000                         136,000

Salaries and Wages Expense                                                391,000                         357,000

Interest Expense                                     34,000                           34,000

Loss on Sale of Equipment                     12,000                                      0

Income Before Taxes                                  244,000                         255,000

Less Income Tax Expense                           98,000                         102,000

Net Income                                               $146,000                       $153,000

Additional Information:

During the year, ABC Corporation had the following transactions:

a. Sold equipment for $2,000. The original cost of the equipment was $133,000 and the related balance in the accumulated depreciation account totaled $119,000.

b. Purchased new equipment and paid $272,000 in cash.

Prepare a statement of cash flows for the year ended December 31, 2014.