Novak Inc., a greeting card company that follows ASPE, had the following statements prepared as at December 31, 2020:

NOVAK INC. Comparative Statement of Financial Position December 31
			2020			2019
Cash			$49,775			$25,150
Accounts receivable			57,980			51,170
Inventory			40,080			60,170
Prepaid rent			5,120			4,110
Equipment			160,040			130,010
Accumulated depreciationequipment			(35,120	)		(25,110	)
Goodwill			20,000			56,000
	Total assets		$297,875			$301,500
Accounts payable			$46,040			$40,010
Income tax payable			4,080			6,170
Salaries and wages payable			8,150			4,150
Shortterm loans payable			7,980			10,170
Longterm loans payable			60,000			75,000
Common shares			130,000			130,000
Retained earnings			41,625			36,000
	Total liabilities and shareholders equity		$297,875			301,500

NOVAK INC. Income Statement Year Ending December 31, 2020
Sales revenue					$344,340
Cost of goods sold					165,000
Gross margin					179,340
Operating expenses					120,000
Operating income					59,340
Interest expense		$11,900
Impairment lossgoodwill		36,000
Gain on disposal of equipment		(2,300	)		45,600
Income before income tax					13,740
Income tax expense					4,115
Net income					$9,625

Additional information:

1.		Dividends on common shares in the amount of $4,000 were declared and paid during 2020. Dividends paid are treated as financing activities.
2.		Depreciation expense is included in operating expenses, as is salaries and wages expense of $73,500.
3.		Equipment with a cost of $42,000 that was 70% depreciated was sold during 2020.

Prepare a statement of cash flows using the indirect method