The comparative balance sheet of Hobson Medical Equipment Inc. for December 31, 2013 and 2012, is as follows:

The following additional information is taken from the records:

Land was sold for $75.

Equipment was acquired for cash.

There were no disposals of equipment during the year.

The common stock was issued for cash.

There was a $195 credit to Retained Earnings for net income.

There was a $60 debit to Retained Earnings for cash dividends declared.

Respond to the following:

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Hint(s)

a. Prepare a statement of cash flows, using the indirect method of presenting Cash Flows from Operating Activities. Use the minus sign to indicate any cash outflows or negative amounts.

Hobson Medical Euipment Inc.

Statement of Cash Flows

For the Year Ended December 31, 2013

Cash flows from operating activities:

$

Adjustments to reconcile net income to net cash flow from operating activities:

Changes in current operating assets and liabilities:

Net cash flow from operating activities

$

Cash flows from investing activities:

$

Net cash flow provided by investing activities

Cash flows from financing activities:

$

Net cash flow provided by financing activities

$

Cash at the beginning of the year

Cash at the end of the year

$