The comparative balance sheets for Rothlisberger Company as of December 31 are presented below.

Additional information:
1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $5,720.
2. Land was sold for cash at book value.
3. Cash dividends of $20,000 were paid.
4. Net income for 2020 was $42,000.
5. Equipment was purchased for $88,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $6,000 cash.
6. Bonds were converted at face value by issuing 40,000 shares of $1 par value common stock.

Instructions
Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method.

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Rothlisberger Company Comparative Balance Sheets December 31 Assets 2020 2019 $ 81,000 $ 45,000 62,000 142,000 Cash 41,000 Accounts receivable Inventory Prepaid expenses Land 151,450 15,280 21,000 105,000 130,000 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment 200,000 200,000 (60,000) (40,000) 221,000 155,000 (45,000) (35,000) Total $709,730 $680,000 Liabilities and Stockholders’ Equity $ 47,730 $ 40,000 Accounts payable Bonds payable Common stock, $1 par Retained earnings 260,000 300,000 200,000 202,000 160,000 180,000 Total $709,730 $680,000