Rainey CompanyBalance SheetDecember 312010 2009Cash $ 30900 $ 10200Accounts rece

Rainey CompanyBalance SheetDecember 312010 2009Cash $ 30900 $ 10200Accounts receivable (net) 43300 20300Inventory 35000 42000Long-term investments 0 15000Property plant & equipment 236500 150000Accumulated depreciation (37700) (25000)$308000 $212500Accounts payable $ 17000 $ 26500Accrued liabilities 21000 17000Long-term notes payable 70000 50000Common stock 130000 90000Retained earnings 70000 29000$308000 $212500Additional data:1 Net income for the year 2010 $76000.2 Depreciation on plant assets for the year $12700.3 Sold the long-term investments for $28000 (assume gain or loss is ordinary).4 Paid dividends of $35000.5 Purchased machinery costing $26500 paid cash.6 Purchased machinery and gave a $60000 long-term note payable.7 Paid a $40000 long-term note payable by issuing common stock.InstructionsPrepare a statement of cash flows (using the indirect method) for 2010 for Rainey Company.