Prepare the statement of cash flows. Below are a balance sheet, income statement, and additional information of Calculator Corporation.

Additional information:

1. Cash dividends were declared and paid in 2021.

2. Land was sold for cash at a loss of $10,000. This was the only land transaction during the year.

3. Equipment with a cost of $15,000 and accumulated depreciation of $11,000 was sold for $5,000 cash.

4. Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $5,000. All other equipment was acquired with cash.

5. $8,000 of bonds were retired during the year. The bonds were issued at par.

Balance Sheet 2021 2020 Change Assets Cash Accounts receivable Prepaid insurance Land 90,000 25.000 65,000 80,000 60,000 20,000 22,000 20,000 2,000 18,000 40,000 (22,000) 70,000 60,000 10,000 (20,000) (10.000) (10,000) 260.000 195.000 Equipment Accumulated depreciation Total Assets Liabilities and Stockholders' Equity Accounts payable Bonds payable, net (issued at par) Common stock Retained earnings Total liabilities and stockholders' equity 12,000 27,000 140,000 81,000 260.000 6,000 19,000 115,000 55.000 195,000 6,000 8,000 25,000 26,000 Calculator Corporation Income Statement For the Year Ended December 31, 2021 300,000 Sales Less: (100,000) Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Income taxes Interest expense Loss on sale of land Gain on sale of equipment (12,000) (13,000) (10,000) (269,000) 31,000 Net income (loss)