Kingbird Company had the following information available at the end of 2020.

KINGBIRDCOMPANY COMPARATIVE BALANCE SHEETS AS OF DECEMBER 31, 2020 AND 2019
		2020			2019
Cash		$10,000			$4,000
Accounts receivable		20,310			13,020
Short-term investments		22,130			30,220
Inventory		41,720			35,050
Prepaid rent		2,990			12,020
Prepaid insurance		2,110			90
Supplies		990			75
Land		124,580			173,520
Buildings		346,580			346,580
Accumulated depreciationbuildings		(104,590	)		(87,450	)
Equipment		526,340			396,350
Accumulated depreciationequipment		(128,910	)		(111,140	)
Patents		44,770			49,670
Total assets		$909,020			$862,005
Accounts payable		$21,870			$32,290
Income taxes payable		4,950			3,990
Salaries and wages payable		4,990			3,030
Short-term notes payable		9,910			9,910
Long-term notes payable		59,920			69,360
Bonds payable		399,750			399,750
Premium on bonds payable		20,740			24,205
Common stock		238,870			219,610
Paid-in capital in excess of parcommon stock		25,190			17,340
Retained earnings		122,830			82,520
Total liabilities and stockholders equity		$909,020			$862,005

KINGBIRD COMPANY INCOME STATEMENT AND DIVIDEND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue					$1,161,920
Cost of goods sold					742,480
					419,440
Gross margin
Operating expenses
Selling expenses		$79,620
Administrative expenses		156,050
Depreciation/Amortization expense		39,810
Total operating expenses					275,480
Income from operations					143,960
Other revenues/expenses
Gain on sale of land		7,970
Gain on sale of short-term investment		4,030
Dividend revenue		2,410
Interest expense		(52,060	)		(37,650	)
Income before taxes					106,310
Income tax expense					39,590
Net income					66,720
Dividends to common stockholders					(26,410	)
To retained earnings					$40,310

Prepare a statement of cash flows for Kingbird Company using the direct method accompanied by a reconciliation schedule. Assume the short-term investments are debt securities, classified as available-for-sale.