|Comparative Balance Sheets|
|Liabilities and Stockholders’ Equity|
|Common stock ($1 par)||216,000||174,000|
1. Net income for 2011 was $103,000.
2. Cash dividends of $45,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $42,000 cash.
5. No equipment was sold during 2011, but land was sold at cost.
Prepare a statement of cash flows for 2011 using the indirect method.