Comparative Balance Sheet Accounts As of December 31 Assets 2021 2020 Cash Accounts receivable S 52,500 $ 38,250 116,250 97,500 Allowance for doubtful accounts (7,500) (6,000) Buildings Inventory Long-term investments Land Accumulated depreciation--building 56,250 45,750 41,250 63,750 30,000 18,750 108,750 108,750 (27,750) (21,000) Equipment 52,500 36,000 Accumulated depreciation--equipment (15,750) (10,500) Total $ 406,500 $ 371,250 Liabilities and Equity Accounts payable S 49,500 $ 45,000 Income tax payable Long term notes payable Common stock Retained earnings 9,000 7,500 46,500 52,500 232,500 195,000 69,000 71,250 $ 406,500 $ 371,250 Total Additional data: 1. Equipment that cost $7,500 and was 60% depreciated was sold in 2021. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. 4. Investments that cost $26,250 were sold during the year. 5. There were no write-offs of uncollectible accounts during the year. Harding's 2021 income statement is as follows. Sales revenue Less: cost of goods sold Gross profit Operating expenses (includes depreciation expense and bad debt expense) Income from operations Other revenues and expenses Gain on sale of investments Loss on sale of equipment Income before taxes Income tax expense Net income S 712,500 (450,000) 262,500 (187,500) 75,000 11,250 (2,250) 9.000 84,000 (33,750) S 50,250 Comparative balance sheet accounts of Harding Company are presented below. Required: Prepare a statement of cash flows for 2021 using the indirect method.