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:
Accountants
Professionals who perform financial functions related to the collection, accuracy, recording, analysis, and presentation of a business, organization, or individual's financial operations.
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