2021	2020
Assets
Cash and cash equivalent	275,000	320,000
Accounts Receivable	240,000	180,000
Inventory	220,000	240,000
Prepaid expenses	45,000	45,000
Equipment, net	510,000	350,000
Total Assets	1,290,000	1,135,000
Liabilities
Accounts payable	285,000	305,000
Accrued liabilities	305,000	285,000
Bond payable	205,000	145,000
Stockholders' Equity:
Common Stock	120,000	85,500
Retained earnings	475,000	314,500
Treasury stock	(100,000)	-
Total liabilities and stockholders' equity	1,290,000	1,135,000

Revenues and gains:
Sales revenue	950,000
Gain on sale of equipment	10,000
Total revenues and gains		960,000
Expenses
Cost of goods sold	450,000
Salary expense	105,000
Depreciation expense	26,000
Rent expense	155,500
Total expenses		736,500
Income before income taxes		223,500
Income tax expense		38,900
Net Profit		184,600

Notes

Purchase of equipment - 286,000

Cash receipt from sale of equipment - 110,000

Issuance of bonds payable to borrow cash - 60,000

Cash receipt from issuance of common stock - 34,500

Dividend paid - 24,100

Book value of equipment sold - 100,00

Purchase of treasury stock - 100,00

Prepare a complete statement of cash flows for December 2021 using the indirect method based on the information