Sully Co. had the following financial data related to the year ended 

December 31: December 31, 2021 2020 

Cash $72,740 $163,880 

Accounts receivable 135,250 64,220 

Merchandise inventory 145,000 123,900 

Long-term investments 112,000 112,800 

Equipment 390,000 184,500 

Accumulated depreciation, equipment 220,000 110,000 

Accounts payable 166,550 91,000 

Income taxes payable 24,000 23,450 

Bonds Payable 98,500 125,560 

Common shares 295,000 222,000 

Retained earnings 150,940 77,290 

Sales $413,532 

Cost of goods sold $165,000 

Depreciation expense 170,000 

Other operating expenses 56,431 

Interest expense 10,185 

Gain on sale of equipment 2,000 399,616 

Net Income $13,916 

Additional information: 

 There was no gain or loss on the long-term investments sold or the bonds retired. 

 Equipment with an original cost of $125,000 and accumulated depreciation of $60,000 was sold for cash. 

 Equipment was purchased for $330,500. 

 Dividends were paid during the year. 

 Additional shares were issued during the year. 

REQUIRED: 

Prepare a statement of cash flows for 2021 using the indirect method. Good form is not required, but all abbreviations must be clear.