Comparative balance sheets for International Company are presented below.

INTERNATIONAL COMPANY

Comparative Balance Sheets

December $31$

$20202019$

Assets

Cash $$73,000$ $$22,000$

Accounts receivable $85,00076,000$

Inventory $180,000189,000$

Land $75,000100,000$

Equipment $250,000200,000$

Accumulated depreciation $-$ equipment $-66,000-42,000$

Total $$597,000$ $$545,000$

Liabilities and Stockholders' Equity

Accounts payable $$34,000$ $$47,000$

Bonds payable $150,000200,000$

Common Stock $($$$1$ par$)214,000164,000$

Retained earnings $199,000134,000$

Total $$597,000$ $$545,000$

Additional information:

$1.$ Net income for $2020$ was $$135,000.$

$2.$ Cash dividends of $$70,000$ were declared and paid.

$3.$ Bonds payable amounting to $$50,000$ were redeemed for cash $$50,000.$

$4.$ Common stock was issued for $$50,000$ cash.

$5.$ Depreciation expense was $$24,000.$

Instructions

Prepare a statement of cash flows for $2020$ using the indirect method.