SHERIDANLTD. Statement of Financial Position December 31
Assets		2021			2020
Cash		$55,000			$25,000
Accounts receivable		90,000			78,500
Inventory		178,000			185,000
Estimated inventory returns		6,000			3,000
Long-term investments		79,000			100,000
Equipment		270,000			174,000
Accumulated depreciation		(79,000	)		(30,000	)
Total assets		$599,000			$535,500
Liabilities and Shareholders Equity
Accounts payable		$22,000			$ 45,000
Refund liability		10,000			3,000
Bank loan payable (noncurrent)		165,000			171,500
Common shares		201,000			180,000
Retained earnings		201,000			136,000
Total liabilities and shareholders equity		$599,000			$535,500

Additional information pertaining to 2021:

1.		Net income was $80,000.
2.		Sales were $972,000.
3.		Cost of goods sold was $756,000.
4.		Operating expenses were $49,000, exclusive of depreciation expense.
5.		Depreciation expense was $49,000.
6.		Interest expense was $14,000.
7.		Income tax expense was $30,000.
8.		Long-term investments were sold at a gain of $6,000.
9.		No equipment was sold during the year.
10.		$6,500 of the bank loan was repaid during the year.
11.		Common shares were issued for $21,000.

Prepare a statement of cash flows using the indirect method.