Preparing Statement of Cash Flows

Boscia Corporation's balance sheet appears below:   Comparative Balance Sheet   Ending Balance Beginning Balance Assets: Cash and cash equivalents......................... $ 44 $ 38 Accounts receivable .................................. 82 69 Inventory ................................................... 71 69 Plant and equipment .................................. 537 500 Accumulated depreciation......................... ( 240) ( 201) Total assets................................................ $494 $475   Liabilities and stockholders’ equity: Accounts payable ...................................... $ 70 $ 60 Wages payable........................................... 24 21 Taxes payable ............................................ 19 22 Bonds payable ........................................... 226 300 Deferred taxes............................................ 19 18 Common stock........................................... 22 20 Retained earnings...................................... 114 34 Total liabilities and stockholders’ equity .. $494 $475   The net income for the year was $108. Cash dividends were $28.   Required: Prepare a statement of cash flows in good form using the indirect method.