Cash dividends of $$14,000$ were declared and paid in $2020.$

Land was sold for cash at a loss of $$4,000.$ This was the only land transaction during the year.

Equipment with a cost of $$15,000$ and accumulated depreciation of $$10,000$ was sold for $$5,000$ cash.

$$22,000$ of bonds were retired during the year at carrying $($book$)$ value.

Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $$25,000.$

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

HALPERN CORPORATION

Statement of Cash Flows

For the Year Ended December $31,2020$

Cash Flows from Operating Activities

Adjustments to reconcile net income to