Question - A comparative balance sheet for Lyon Company appears below:
Additional Information -
1. Net income for the year ending December 31, 2008 was $24,000.
2. Cash dividends of $12,000 were declared and paid during the year.
3. Long-term investments that had a cost of $18,000 were sold for $16,000.
4. Sales for 2008 were $120,000.
Required - Prepare a statement of cash flows for the year ended December 31, 2008, using the indirect method.