Refer to the information for Solpoder Corporation on the previous page.
Solpoder Corporation has the following comparative financial statements:

Solpoder Corporation
Income Statement
For the Year Ended December 31, 2016
Sales.............................................................$ 297,000
Less: Cost of goods sold......................................(175,500)
Gross margin...................................................$ 121,500
Less: Operating expenses.......................................(58,500)
Net income.......................................................$ 63,000
Dividends of $17,100 were paid. No equipment was purchased or retired during the current year.
Required:
Prepare a statement of cash flows using the indirect method.

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Solpoder Corporation Comparative Balance Sheets At December 31, 2015 and 2016 2015 2016 Assets Cash Accounts receivable, net Inventory Plant and equipment Accumulated depreciation S 49,500 135,000 27,000 180,000 (36,000) S 81,000 108,000 54,000 180,000 (45,000) 378,000 Total assets Liabilities and equity Accounts payable Common stock Retained earnings S 57,600 190,800 107,100 S355.500 $ 18,000 207,000 153,000 $378,000 Total liabilities and equity