Freaky Deaky Company provided the following income statements and statements of financial position for 2021.

Freaky Deaky Company Income Statement For the Year Ended March 31, 2021

Sales revenue $3,855,000

Cost of goods sold 1,905,000

Gross margin 1,950,000

Operating expenses

Salary expense $335,000

Depreciation expense 95,000

Interest expense 150,000

Administrative expenses 525,000

Total operating expenses 1,005,000

Income from operations 845,000

Other items Gain on sale of assets 10,000

Income before income tax 855,000

Income tax expense 345,000

Net income $ 510,000

Freaky Deaky Company Statement of Financial Position At March 31,

Assets 2021 2020

Current Cash $ 285,000 $ 335,000

Accounts receivable 350,000 400,00

0 Inventory 290,000 240,000

Prepaid insurance 55,000 35,000

Total current assets 980,000 1,010,000

Property, equipment and vehicles 650,000 590,000

Accumulated amortization (165,000) (130,000)

Total non-current assets 485,000 460,000

$1,465,000 $1,470,000

Liabilities Current Accounts payable $ 60,000 $ 50,000

Wages payable 15,000 20,000

Unearned revenue 50,000 35,000

Income taxes payable 55,000 35,000

Total current liabilities 180,000 140,000

Bonds payable 490,000 575,000

Total liabilities 670,000 715,000

Shareholders Equity Common shares 365,000 285,000

Retained earnings 430,000 470,000

$1,465,000 $1,470,000

Additional information provided by the company is as follows:

1. Property, plant and equipment originally costing $90,000 was sold for $40,000.

2. New equipment costing $150,000 was purchased during the year.

3. New shares were issued for $80,000 during the year.

Required: Prepare the cash flow statement for the 2021 financial statement package, using the indirect method.