Question: The following balance sheets were taken from the records of Blalock Company:
![1547_56.png](https://secure.tutorsglobe.com/CMSImages/1547_56.png)
Additional transactions were as follows:
a. Sold equipment coming $12,000 with accumulated depreciation of 59,000 for $2,000.
b. Retired bends at a price of $60,000 on December 31.
c. Earned net income for the year of $68,000 ; paid cash dividends of $20,000.
Statement of Cash Flows Refer to the information for Blalock Company.
Required: Prepare a statement of cash flows using the indirect method.