Consider the following Balance Sheet for Klausenheimer, Inc.
	2019	2020
Cash	$34,000.00	$34,500.00
Accounts receivable, net	$12,000.00	$17,000.00
Inventory	$16,000.00	$14,000.00
Investment (long-term)	$6,000.00	-
Fixed assets	$80,000.00	$93,000.00
Accumulated depreciation	$-48,000.00	$-39,000.00
Total Assets	$100,000.00	$119,500.00
Accounts Payable	$19,000.00	$12,000.00
Bonds payable	$10,000.00	$30,000.00
Common stock	$50,000.00	$61,000.00
Retained Earnings	$21,000.00	$28,000.00
Treasury Stock	-	$-11,500.00
Total Liabilities and Equity	$100,000.00	$119,500.00

Supplemental information for time period January 1, 2020, through December 31, 2020:

Sales on account, $70,000.

Purchases on account, $40,000.

Depreciation, $5,000.

Expenses paid in cash, $18,000 (including $4,000 of interest and $6,000 in taxes).

Decrease in inventory, $2,000.

Sales of fixed assets for $6,000 cash; cost $21,000 and two-thirds depreciated (loss or gain is included in income)

Purchase of fixed assets for cash, $4,000.

Fixed assets are exchanged for bonds payable $30,000 (noncash activity)

Sale of investments (long-term) for $9,000 cash.

Purchase of treasury stock for cash, $11,500.

Retire bonds payable by issuing common stock, i.e., conversion of bonds into common stock, $10,000 (noncash activity)

Collections on accounts receivable, $65,000.

Sold unissued common stock for cash, $1,000.

Prepare a statement of cash flows using the indirect method for the year ending December 31, 2020. (Hint: You first need to create an income statement based on the relevant supplemental information. Net income should be $7,000) <-- I need help with the income statement!!!!