Problem 17-11A

The comparative balance sheets for Rothlisberger Company as of December 31 are presented below.

ROTHLISBERGER COMPANY Comparative Balance Sheets December 31
Assets		2020			2019
Cash		$58,100			$49,600
Accounts receivable		43,500			65,100
Inventory		152,000			144,500
Prepaid expenses		14,500			22,500
Land		101,600			134,000
Buildings		196,700			196,700
Accumulated depreciationbuildings		(56,800	)		(32,600	)
Equipment		231,700			157,600
Accumulated depreciationequipment		(44,300	)		(35,200	)
Total		$697,000			$702,200
Liabilities and Stockholders Equity
Accounts payable		$46,300			$39,300
Bonds payable		260,000			292,600
Common stock, $1 par		192,600			160,000
Retained earnings		198,100			210,300
Total		$697,000			$702,200

Additional information:

1.		Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $8,000.
2.		Land was sold for cash at book value.
3.		Cash dividends of $57,600 were paid.
4.		Net income for 2020 was $45,400.
5.		Equipment was purchased for $95,600 cash. In addition, equipment costing $21,500 with a book value of $12,800 was sold for $5,100 cash.
6.		Bonds were converted at face value by issuing 32,600 shares of $1 par value common stock.

Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)