On the basis of the following data for Breach 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 $25,000 was purchased for cash and no long term assets were sold during the period.
Stock was issued for cash-3,200 shares at par.
Net income for the current year was $76,000.
Cash dividends declared and paid were $13,000. 
Definitions:
Lower-Income Households
Families or individuals with income levels significantly below the median for their geographical area.
Middle-Income Households
Families or households with income levels that fall in the middle of the national income distribution, typically encompassing those who can afford a comfortable lifestyle without being considered wealthy.
Currency Fluctuation
The variation in the exchange rate of one currency against another, affecting international trade, investment, and economics.
Value Fluctuation
Variations in the market value of goods, services, or assets over a period of time.
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