A comparative balance sheet for Rocker Company appears below:

ROCKER COMPANY

Comparative Balance Sheet

Dec. 31, 2020 Dec. 31, 2019

Assets

Cash $34,000 $11,000

Accounts receivable 18,000 13,000

Inventory 25,000 17,000

Prepaid expenses 6,000 9,000

Long-term investments 0 17,000

Equipment 60,000 33,000

Accumulated depreciationequipment (20,000 ) (15,000 )

Total assets $123,000

$85,000

Liabilities and Stockholder's Equity

Accounts payable $17,000 $7,000

Bonds payable 36,000 45,000

Common stock 40,000 23,000

Retained earnings 30,000 10,000

Total liabilities and stockholders' equity $123,000

$85,000

Additional information:

1. Net income for the year ending December 31, 2020 was $35,000.

2. Cash dividends of $15,000 were declared and paid during the year.

3. Long-term investments that had a cost of $17,000 were sold for $14,000.

4. Sales for 2020 were $120,000.

Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

ROCKER COMPANY

Statement of Cash Flows

For the Year Ended December 31, 2020