Here are comparative balance sheets for Sheffield Company. Prepare a statement of cash flows-indirect method. Assets Cash Accounts receivable Inventories Land SHEFFIELD COMPANY Comparative Balance Sheets December 31 Equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 2020 $72,000 87,000 168,000 70,000 262,000 (66,000) $593,000 $35,000 151,000 218,000 189,000 $593,000 2019 $21,000 77,000 190,000 99,000 202,000 (34,000) $555,000 $45,000 208,000 176,000 126,000 $555,000 1. Net income for 2020 was $97,000. 2. Cash dividends of $34,000 were declared and paid. 3. Bonds payable amounting to $57,000 were redeemed for cash $57,000. 4. Common stock was issued for $42,000 cash. 5. Equipment that cost $45,000 and had a book value of $27,000 was sold for $35,000 during 2020; land was sold at cost.

Here are comparative balance sheets for Sheffield Company. Prepare a statement of cash flows-indirect method. Additional information: 1. Net income for 2020 was $97,000. 2 Cash dividends of $34,000 were declored and paid. 3. Bonds payable amounting to $57,000 were redeemed for cash $57,000. 4. Commonstock was issued for $42,000 cash 5. Equipment that cost $45,000 and had a book value of $27,000 was sold for $35,000 during 2020 , land was sold at cost. Shefficld COMPANY statement of Conh flom s Adjutments to reconchle net income to s Swefoclater Attenots: ot 1 used