Comparative balance sheet accounts of Colchester Company are presented below. Colchester Company Comparative Balance Sheet Accounts As of December 31 Assets 2024 2023 Cash 98,000 71,400 Accounts receivable 203,000 170,800 Inventory 105,000 85,400 Long-term investments (AFS) 77,000 119,000 Land 56,000 35,000 Buildings 203,000 203,000 Accumulated depre.--building (51,800) (39,200) Equipment 98,000 67,200 Accumulated depre.--equipment (29,400) (19,600) Total 758.800 693,000 Liabilities and Equity Accounts payable 92,400 84,000 Income tax payable 16,800 14,000 Long term notes payable 86,800 98,000 Common stock 434,000 364,000 Retained earnings 128,800 133,000 Total 758.800 693.000 Additional data: 1. Equipment that cost $14,000 and was 60% depreciated was sold in 2024. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. 4. Long-term investments that cost $49,000 were sold during the year. Colchester's 2024 income statement is as follows. Sales revenue Less: cost of goods sold Gross profit Operating expenses (includes depreciation 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 1,330,000 (840,000) 490,000 (350,000) 140,000 21,000 (4,200) 16,800 156,800 (63,000) 93,800 Prepare a statement of cash flows using the indirect method for the operating activities.