Prepare the statement of cash flows for Sketchers Corporation for the year ended December 31, 2020, assuming the indirect method in presenting cash flows from operating activities.

Sketchers Corporation's recent comparative balance sheet and income statement follow. Balance Sheets, December 31 2019 2020 Assets Cash and cash equivalents $22,400 $95,200 Accounts receivable (net) 28,000 50,400 Inventory 56,000 67,200 Investment, long-term Plant assets 168,000 263,200 Accumulated depreciation (28,000) (39,200) Total assets $257,600 $436,800 Liabilities and Stockholders' Equity Accounts payable $16,800 $28,000 Notes payable, short-term (nontrade) 22,400 16,800 Notes payable, long-term 56,000 100,800 Common stock, no-par 140,000 224,000 Retained earnings 22,400 67,200 Total liabilities andstockholders' equity $257,600 $436,800 Income Statement, For Year Ended December 31 Sales revenue Cost of goods sold Gross margin Depreciation expense Other operating expenses Net income 2020 $840,000 (504,000) 336,000 (11,200) (179,200) $145,600 Additional Information 1. Sold the long-term investment at cost, for cash. 2. Declared and paid a cash dividend of $39,200. 3. Purchased plant assets that cost $95,200; gave a $67,200 long-term note payable and paid $28,000 cash. 4. Paid a $22,400 long-term note payable by issuing common stock; market value, $22,400. 5. Issued a stock dividend, $61,600