Here are comparative balance sheets for Metlock Company. Prepare a statement of cash flows$-$indirect method.

Additional information:

Net income for $2020$ was $$96,000.$

Cash dividends of $$25,000$ were declared and paid.

Bonds payable amounting to $$61,000$ were redeemed for cash $$61,000.$

Common stock was issued for $$42,000$ cash.

Equipment that cost $$50,000$ and had a book value of $$27,000$ was sold for $$34,000$ during $2020$ ; land was sold at cost$.$

$($a$)$

Your answer is partially correct.

Prepare a statement of cash flows for $2020$ using the indirect method. $($Show amounts that decrease cash flow with either a $-$ sign e$.$g$.$

$-15,000$ or in parenthesis e$.$g$.(15,000).)$