Condensed financial data of Odgers Inc. follow.

*Problem 12-10ACondensed financial data of Odgers Inc. follow.AssetsODGERS INC.Comparative Balance SheetsDecember 312014Cash2013$ 189,880$ 113,740Accounts receivable206,33089,300Inventory264,375241,69866,74061,100324,300256,150669,750(117,500 )569,875(122,200 )Prepaid expensesLong-term investmentsPlant assetsAccumulated depreciationTotal$1,603,875$1,209,663$ 239,700$ 158,15538,77549,350Bonds payable258,500343,100Common stockRetained earnings517,000549,900411,250247,808$1,603,875$1,209,663Liabilities andStockholders’ EquityAccounts payableAccrued expenses payableTotalODGERS INC.Income Statement DataFor the Year Ended December 31, 2014Sales revenue$912,881Less:Cost of goods soldOperating expenses, excludingdepreciationDepreciation expenseIncome taxesInterest expenseLoss on disposal of plant assetsNet income$318,33129,164109,27564,10811,11617,625549,619$ 363,262Additional information:1.2.3.4.New plant assets costing $235,000 were purchased for cash during the year.Old plant assets having an original cost of $135,125 and accumulated depreciation of $113,975 were sold for $3,525 cash.Bonds payable matured and were paid off at face value for cash.A cash dividend of $61,170 was declared and paid during the year.Further analysis reveals that accounts payable pertain to merchandise creditors.Prepare a statement of cash flows for Odgers Inc. using the direct method. (Show amounts that decrease cash flow with either a – signe.g. -15,000 or in parenthesis e.g. (15,000).)ODGERS INC.Statement of Cash FlowsFor the Year Ended December 31, 2014$:$Question Attempts: 0 of 3used