A comparative balance sheet for Joseph Corporation is presented below:
	JOSEPH CORPORATION
	Comparative Balance Sheet
		2020		2001
	Assets
	Cash	$51,000.00		$31,000.00
	Accounts receivable (net)	75,000		60,000
	Prepaid insurance	22,000		17,000
	Land	22,000		40,000
	Equipment	70,000		60,000
	Accumulated depreciation	-20,000		-13,000
	Total Assets	$220,000.00		$195,000.00
	Liabilities and Stockholders' Equity
	Accounts payable	$13,000.00		$6,000.00
	Bonds payable	30,000		19,000
	Common stock	140,000		115,000
	Retained earnings	37,000		55,000
	Total liabilities and stockholders' equity	$220,000.00		$195,000.00

Additional information:
1	Net loss for 2020 is $14,000.
2	Cash dividends of $4,000 were declared and paid in 2020.
3	Land was sold for cash at a loss of $5,000. This was the only land transaction during the year.
4	Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash.
5	$14,000 of bonds were retired during the year at carrying (book) value.
6	Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.

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