The following are Sullivan Corp

The following are Sullivan Corp.’s comparative balance sheet accounts at December 31, 2012 and 2011, with a column showing the increase (decrease) from 2011 to 2012.OMPAIM11. BALANCE 001.1111 
2012 2011 IR:reale (Decrease) Cash Amounts reoe,vable $ 815,000 1,128,000 $ 700,000 $115,000 (40,000) Inventory Property, plant, and equipment 1,715,000 135,000 340000 Accumulated depreciation Investment in Myers Co. 0,733,000 310,000 opto,00m 275,000 ozspoco. 35,000 Loan receivable Total assets 250,000 $710,000 $8,405,000 $5,785,000 000000713 707000 $1,015,000 $ 055,000 $ 00,000 1700130 10300 payable Dividends payable 30,000 S0. 00,000100,000 (20,000) (20,000) Cap,tal lease obligation Common stook, $1 par 500,000. Paid-in capital in excess of par —common stook 1,500,000 Retained earnings 280,000 Total liabilities and stockholders' equity $0,405,000 $5,785,000 $710,000 
Additional information:
1. On December 31, 2011, Sullivan acquired 25% of Myers Co.’s common stock for $275,000. On that date, the carrying value of Myers’s assets and liabilities, which approximated their fair values, was $1,100,000. Myers reported income of $140,000 for the year ended December 31, 2012. No dividend was paid on Myers’s common stock during the year.
2. During 2012, Sullivan loaned $300,000 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $50,000, plus interest at 10%, on December 31, 2012.
3. On January 2, 2012, Sullivan sold equipment costing $60,000, with a carrying amount of $38,000, for $40,000 cash.
4. On December 31, 2012, Sullivan entered into a capital lease for an office building. The present value of the annual rental payments is $400,000, which equals the fair value of the building. Sullivan made the first rental payment of $60,000 when due on January 2, 2013.
5. Net income for 2012 was $370,000.
6. Sullivan declared and paid cash dividends for 2012 and 2011 as shown on the next page.

2012 2011 Declared December 15, 2012 December 15, 2011 Paid Feduery 20, 2013 February 28, 2012 Amount 880,000 $100,000 

Instructions
Prepare a statement of cash flows for Sullivan Corp. for the year ended December 31, 2012, using the indirect method.