Comparative balance sheets and the income statement of Cantle Company are presented below. Prepare a statement of cash flows using the indirect method. Cantle Company Comparative Balance Sheets As of December 31 Assets 2021 2020 Cash 70,000 51,000 Debt investments (available for sale) 55,000 85,000 Accounts receivable, net 145,500 122,000 Inventory 75,000 64,000 Land 40,000 25,000 Buildings 145,000 145,000 Accumulated depre.--building (37,000) (28,000) Equipment 70,000 48,000 Accumulated depre.--equipment (21,000) (14,000) Total 542,500 498,000 Liabilities and Stockholders' Equity Accounts payable 66,000 68,000 Income tax payable 12,000 10,000 Bonds payable 70,000 70,000 Discount on bonds payable (7,500) (8,000) Common stock 310,000 260,000 Retained earnings 92,000 98,000 Total 542,500 498,000 Cantle Company Income Statement FYE December 31, 2021 Sales revenue 950,000 Less: cost of goods sold (600,000) Gross profit 350,000 Operating expenses (includes depreciation expense) (250,000) Income from operations 100,000 Other revenues and expenses Gain on sale of investments 15,000 Loss on sale of equipment (3,000) 12,000 Income before taxes 112,000 Income tax expense (45,000) Net income 67,000 Additional data: 1. Equipment that cost $10,000 and was 60% depreciated was sold in 2021. 2. Common stock was issued in exchange for land. 3. Debt investments that cost $35,000 were sold during the year.