A comparative statement of financial position for Sheffield Industries Inc. follows:

SHEFFIELD INDUSTRIES INC. Statement of Financial Position December 31, 2020
	December 31
Assets	2020			2019
Cash	$22,500			$35,500
Accounts receivable	117,000			55,300
Inventory	231,000			199,000
Land	86,000			130,000
Equipment	278,000			204,000
Accumulated depreciationequipment	(70,500	)		(42,900	)
Total	$664,000			$580,900
Liabilities and Shareholders Equity
Accounts payable	$52,700			$60,200
Bonds payable	164,400			218,400
Common shares	234,000			180,000
Retained earnings	212,900			122,300
Total	$664,000			$580,900

Additional information:

1.		Net income for the fiscal year ending December 31, 2020, was $142,000.
2.		Cash dividends of $51,400 were declared and paid. Dividends paid are treated as financing activities.
3.		Bonds payable amounting to $54,000 were retired through issuance of common shares.
4.		Land was sold at a gain of $3,000.
5.		No equipment was sold during the year.

(a) Prepare a statement of cash flows using the indirect method.