Crane Ltd. which follows ASPE had these following comparative statement of financial position. Prepare a statement of cash flows using the indirect method.

December 31 Assets 2021 Cash $ 100.040 Accounts receivable 165,920 Inventory 97,600 Prepaid insurance 12,200 Equipment 375,760 Accumulated depreciation-equipment (85,400) Patents 97,600 Total assets $ 763,720 Liabilities and Shareholders' Equity Accounts payable $ 112,240 Interest payable 9,760 Salaries and wages payable 19,520 Income taxes payable 19,520 Long-term note payable 146,400 Common shares 317,200 Retained earnings 139,080 Total liabilities and shareholders' equity $ 763,720 2020 $ 61,000 124,440 146,400 9,760 317,200 (61,000) 122,000 $ 719,800 $ 97,600 14,640 9,760 24,400 168,360 317,200 87,840 $ 719.800 Additional information: 1. 2. Net income for the fiscal year was $65,880. Equipment that cost $48,800 and was 70% depreciated was sold during 2021. for ag No patents were purchased or sold during the fiscal year. 3