The comparative balance sheet of House Construction Co. for June 30, 2010 and 2009, is as follows:

The following additional information was taken from the records of House Construction Co.:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $54,000 cash.
4. The common stock was issued for cash.
5. There was a $79,200 credit to Retained Earnings for net income.
6. There was a $60,000 debit to Retained Earnings for cash dividends declared.

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. If needed, use the minus sign to indicate cash outflows or a decrease in cash.