Here are comparative balance sheets for Kingbird Company. Prepare a statement of cash flows—indirect method.

KINGBIRD COMPANY Comparative Balance Sheets December 31
Assets		2020		2019
Cash		$72,000		$22,000
Accounts receivable		88,000		75,000
Inventory		171,000		188,000
Land		71,000		99,000
Equipment		260,000		197,000
Accumulated depreciation - equipment		(67,000)		(32,000)
Total		$595,000		$549,000
Liabilities and Stockholders' Equity
Accounts payable		$37,000		$47,000
Bonds payable		149,000		208,000
Common stock ($1 par)		212,000		171,000
Retained earnings		197,000		123,000
Total		$595,000		$549,000

Additional information:

1.		Net income for 2020 was $102,000.
2.		Cash dividends of $28,000 were declared and paid.
3.		Bonds payable amounting to $59,000 were redeemed for cash $59,000.
4.		Common stock was issued for $41,000 cash.
5.		Equipment that cost $49,000 and had a book value of $29,000 was sold for $38,000 during 2020; land was sold at cost.

(a)

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