Solpoder Corporation has the following comparative financial statements:

Solpoder Corporation

Comparative Balance Sheets

At December 31, 20X1 and 20X2

1		20X1	20X2
2	Assets:
3	Cash	$49,500.00	$81,000.00
4	Accounts receivable, net	135,000.00	108,000.00
5	Inventory	27,000.00	54,000.00
6	Plant and equipment	180,000.00	180,000.00
7	Accumulated depreciation	(36,000.00)	(45,000.00)
8	Total assets	$355,500.00	$378,000.00
9	Liabilities and equity:
10	Accounts payable	$57,600.00	$18,000.00
11	Common stock	190,800.00	207,000.00
12	Retained earnings	107,100.00	153,000.00
13	Total liabilities and equity	$355,500.00	$378,000.00

Solpoder Corporation

Income Statement

For the Year ended December 31, 20X2

1	Sales	$297,000.00
2	Cost of goods sold	(175,500.00)
3	Gross margin	$121,500.00
4	Operating expenses	(58,500.00)
5	Net income	$63,000.00

Dividends of $17,100 were paid. No equipment was purchased or retired during the current year.

	Required:
	Prepare a statement of cash flows using the indirect method.