Condensed financial data of Odgers Inc. follow. ODGERS INC. Comparative Balance Sheets December 31 Assets 2014 2013 Cash $ 101,808 $ 60,984 Accounts receivable 110,628 47,880 Inventory 141,750 129,591 Prepaid expenses 35,784 32,760 Long-term investments 173,880 137,340 Plant assets 359,100 305,550 Accumulated depreciation (63,000 ) (65,520 ) Total $859,950 $648,585 Liabilities and Stockholders’ Equity Accounts payable $ 128,520 $ 84,798 Accrued expenses payable 20,790 26,460 Bonds payable 138,600 183,960 Common stock 277,200 220,500 Retained earnings 294,840 132,867 Total $859,950 $648,585 ODGERS INC. Income Statement Data For the Year Ended December 31, 2014 Sales revenue $489,460 Less: Cost of goods sold $170,680 Operating expenses, excluding depreciation 15,637 Depreciation expense 58,590 Income taxes 34,373 Interest expense 5,960 Loss on disposal of plant assets 9,450 294,690 Net income $ 194,770 Additional information: 1. New plant assets costing $126,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $72,450 and accumulated depreciation of $61,110 were sold for $1,890 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $32,797 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 $ : $ $