Prepare a statement of cash flows (indirect method). Ignore tax effects.

Additional inform ation: 1. Net in come for 2021 $160,000 2. Cash dividends of $128,000 were declared De cember 15,2021 , payable January 15,2022. A 5% stock dividend was issued M arch 31,2021 , when the market value was $22.00 per share. 3. The long-term investments were sold for $140,000. 4. A building and land which st $480,000 and had a book value of $350,000 were sold for $400,000. The cost of the land, included in the cost and book value above, was $20,000. 5 6. A fully depreciated copier machine which cost $28,000 was written off. 7. Pre ferred sto ck of $70,000 par value was redeemed for $90,000. 8. The company sold 12,000 shares of its common sto dk ( $10 par) on June 15,2021 for $25 a share. There were 87,600 shares outstanding on De cember 31, 2021. 9. Bonds were sold at 104 on December 31,2021. 10. Land that was condemned had a book value of $240,000. Proceeds received totaled $108,000. Instructions Prepare a statement of cash flows (indire ct method). Ignore tax effects