Instructions Labels and Amount Descriptions Instructions The following are accounting items taken from the records of Sterling Company for 2020: Payment of dividends $24,000 Decrease in accounts payable 19,000 Decrease in accounts receivable 21,000 Increase in inventories 6,000 Increase in salaries payable 18,000 Net income 42,000 Payment for purchase of land and buildings 60,000 Issuance of ten-year bonds payable at par 20,000 Depreciation expense 10,000 Proceeds from sale of patent rights 27,000 Required: Prepare the statement of cash flows for Sterling Company for 2020 using the indirect method. Statement of Cash Flows Prepare the statement of cash flows for Sterling Company for 2020 using the indirect method. Statement of Cash Flows Instructions 1 (Label) Sterling Company Statement of Cash Flows For the Year Ended December 31, 2020 2 3 Adjustments for differences between net income and cash flows from operating activities: 5 6 7 8 9 10 (Label) 12 14 (Label) 15 16 17 18 X