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The comparative balance sheet of Nelson Company, for 2008 and the preceding year ended December 31, 2007, appears below in condensed form:,, Year Year, 2008 2007,Cash $ 68,000 $ 42,500 ,Accounts receivable (net) 61,000 70,200 ,Inventories 121,000 105,000 ,Investments ….. 100,000 ,Equipment 515,000 425,000 ,Accumulated depreciation-equipment (153,000) (175,000), $612,000 $567,700 , ,Accounts payable $ 59,750 $ 47,250 ,Bonds payable, due 2010 ….. 75,000 ,Common stock, $20 par 375,000 325,000 ,Premium on common stock 50,000 25,000 ,Retained earnings 127,250 95,450 , $612,000 $567,700 ,,Additional data for the current year are as follows:,,(a) Net income, $71,800.,(b) Depreciation reported on income statement, $38,000.,(c) Fully depreciated equipment costing $60,000 was scrapped, no salvage, and equipment was purchased for $150,000.,(d) Bonds payable for $75,000 were retired by payment at their face amount.,(e) 2,500 shares of common stock were issued at $30 for cash.,(f) Cash dividends declared and paid, $40,000.,(g) Investments of $100,000 were sold for $125,000.,,Prepare a statement of cash flows using the indirect method.,

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