A comparative statement of financial position for Culver Industries Inc. follows: CULVER INDUSTRIES INC. Statement of Financial Position December 31, 2020 December 31 Assets 2020 2019 Cash $22,700 $35,700 Accounts receivable 118,000 54,500 Inventory 221,000 190,000 Land 74,000 121,000 Equipment 269,000 213,000 Accumulated depreciation-equipment (69,500) (42,200) Total $635,200 $572,000 Liabilities and Shareholders' Equity Accounts payable $53,200 $60,900 Bonds payable 172,900 204,900 Common shares 215,000 183,000 Retained earnings 194,100 123,200 Total $635,200 $572,000 Additional information: 1. Net income for the fiscal year ending December 31, 2020, was $145,000. 2. Cash dividends of $74,100 were declared and paid. Dividends paid are treated as financing activities. 3. Bonds payable amounting to $32,000 were retired through issuance of common shares. 4. Land was sold at a gain of $6,000. 5. No equipment was sold during the year.Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CULVER INDUSTRIES INC. Statement of Cash Flows Adjustments to reconcile net income to net cash provided by operating activities: During the year, Culver retired $ in bonds payable by issuing common shares