On the basis of the following data for Branch Co. for the current and preceding years ended December 31, prepare a statement of cash flows for the current year using the indirect method.
Assume that equipment costing $125,000 was purchased for cash and the land was sold for $15,000. The stock was issued for cash and the only entries in the retained earnings account were for net income of $56,000 and cash dividends declared and paid of $18,000. 
Definitions:
Market Price
The present rate at which a service or asset is available for purchase or sale in a specific market.
Marginal Revenue
The revenue increase resulting from the sale of one extra unit of a good or service.
Marginal Cost
Expenses accrued from the creation of one more product or service unit.
Average Total Cost
The total cost of production divided by the number of goods produced, indicating the cost on average of producing each unit of output.
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