Indigo Inc. had the following balance sheet at December 31, 2019.

INDIGO INC. BALANCE SHEET DECEMBER 31, 2019
Cash		$21,850		Accounts payable		$31,850
Accounts receivable		23,050		Notes payable (long-term)		42,850
Investments		33,850		Common stock		101,850
Plant assets (net)		81,000		Retained earnings		25,050
Land		41,850				$201,600
		$201,600

During 2020, the following occurred.

1.		Indigo Inc. sold part of its debt investment portfolio for $15,301. This transaction resulted in a gain of $3,701 for the firm. The company classifies these investments as available-for-sale.
2.		A tract of land was purchased for $14,850 cash.
3.		Long-term notes payable in the amount of $16,301 were retired before maturity by paying $16,301 cash.
4.		An additional $20,301 in common stock was issued at par.
5.		Dividends of $8,501 were declared and paid to stockholders.
6.		Net income for 2020 was $33,850 after allowing for depreciation of $11,301.
7.		Land was purchased through the issuance of $36,850 in bonds.
8.		At December 31, 2020, Cash was $38,850, Accounts Receivable was $43,450, and Accounts Payable remained at $31,850.

(a)

Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

INDIGO INC. Statement of Cash Flows