Below are Sullivan Corp.'s comparative balance sheet accounts at December 31, 2020 and 2019,.

		2020		2019		Increase (Decrease)
Cash		$815,000		$700,000
Accounts receivable		1,128,000		1,168,000
Inventory		1,850,000		1,715,000
Property, plant, and equipment		3,307,000		2,967,000
Accumulated depreciation		(1,165,000)		(1,040,000)
Investment in Myers Co.		310,000		275,000
Loan receivable		250,000
Total assets		$6,495,000		$5,785,000
Accounts payable		$1,015,000		$955,000
Income taxes payable		30,000		50,000
Dividends payable		80,000		100,000
Lease liability		400,000
Common stock, $1 par		500,000		500,000
Paid-in capital in excess of par - common		1,500,000		1,500,000
Retained earnings		2,970,000		2,680,000
Total liabilities and stockholders' equity		$6,495,000		$5,785,000

Additional information:

• On December 31, 2019, Sullivan acquired 25% of Myers Co.'s common stock for $275,000. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,100,000. Myers reported income of $140,000 for the year ended December 31, 2020. No dividend was paid on Myers's common stock during the year.
• During 2020, Sullivan loaned $300,000 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $50,000, plus interest at 10%, on December 31, 2020.
• On 1/2/2020, Sullivan sold equipment costing $60,000 (adj basis $38,000) for $40,000 cash.
• On December 31, 2020, Sullivan entered into a capital lease for an office building. The present value of the annual rental payments is $400,000, which equals the fair value of the building. Sullivan made the first rental payment of $60,000 when due on January 2, 2021.
• Net income for 2020 was $370,000.
• Sullivan declared and paid the following cash dividends for 2020 and 2019.

2020 2019

$80,000 $100,000

Declared 12/15/2020 12/15/2019

Paid 2/28/2021 2/28/2020

Required: Prepare a statement of cash flows for Sullivan Corp. for the year ended December 31, 2020, using the indirect method.