Problem #$5$

The current sections of the Leonard & Co$.$ balance sheets at December $31,2019$ and $2020$ are

presented below. Dividends paid during $2020$ were $$83,000,$ depreciation expense was $$29,000,$ and

loss on sale of an asset was $$16,000$

Prepare the cash privided by $($used by$)$ operating activities section of the company's statement of cash flows,

using the indirect method, for the year ended December $31,2020.$