Sage Land Company reported $518,000 of net income for 2020. The accountant, in preparing the statement of cash flows, noted several items occurring during 2020 that might affect cash flows from operating activities. 1. Sage declared a $1.50 cash dividend. Ten thousand shares of $1 par common stock were outstanding at the date of record. 2. 3. 4. 5. 6. 7. Sage revised its estimate for warranty expense. Before 2020, Sage's warranty expense was 0.5% of its net sales. In 2020, this percentage was increased to 0.7%. Net sales for 2020 were $5,899,000, and the accrued warranty expense increased by $93,000 during 2020. Sage sold 500 shares of treasury stock for $41 per share. The shares were originally purchased for $39 per share. Depreciation expense is $155,000. Sage issued 2,000 shares of its $1 par common stock for a building. The market value of the shares on the date of the transaction was $40 per share. Sage holds 30% of Windy Company's common stock as a long-term investment. Windy Company reported $91,700 of net income and paid dividends of $35,600 for 2020. Sage purchased $54,500 of debt securities and classified the investment as available-for-sale. The market prices increased to $56,900 by the end of the year. Prepare a schedule that shows the net cash flow from operating activities using the indirect method. Assume no items other than those listed above affected the computation of 2020 net cash flow from operating activities. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sage Co. Statement of Cash Flows (Partial) Adjustments to reconcile net income to $ $