The Barden Corporation's Comparative balance sheet for 20X1 20X0 or presented below.

December 31,
	20X1	20X0	Increase (Decrease)
Assets
Cash	$ 337,000	$ 246,000	$ 91,000
Accounts receivable, net	420,000	280,000	140,000
Marketable securities	15,000	-0-	15,000
Inventories	520,000	440,000	80,000
Land	650,000	400,000	250,000
Plant and equipment	1,160,000	1,266,000	(106,000)
Less: accumulated depreciation	(180,000)	(200,000)	20,000
Total assets	$2,922,000	$2,432,000	$490,000
Liabilities and stockholders' equity
Liabilities:
Accounts payable	$660,000	$ 500,000	$160,000
Accrued wages	540,000	520,000	20,000
Long-term bonds (due 7/1/20X8)	260,000	360,000	(100,000)
Total liabilities	1,460,000	1,380,000	80,000
Stockholder's equity:
Common stock and additional paid-in capital	966,000	760,000	206,000
Retained earnings	496,000	292,000	204,000
Total stockholders' equity	1,462,000	1,052,000	410,000
Total liabilities and stockholders' equity	$2,922,000	$2,432,000	$490,000

The income statement of Barden Corporation for the year ended December 31,20X1, is as follows:

Income Statement for the year ended December 31, 20X1
Sales	$1,600,000
Gain on sale of marketable securities	2,000
Gain on extinguishment of debt	44,000
Total revenue and gains	1,646,000
Expenses:
Cost of goods sold	720,000
Personal cost	386,000
Depreciation	40,000
Loss of sale of equipment	8,000
Interest	32,000
Miscellaneous	16,000
Total expenses	1,202,000
Income before income taxes	444,000
Income tax expense	200,000
Net income	244,000

Additional Information:

1. On January 11 20X1, Barden purchased land for $170,000 cash.
2. January 23, 20X1, Barden extinguished long-term bonds with a face value of $100,000.
3. On February 8 20X1, Barden issued 8400 shares of common stock for cash. The stock was issued at $15 per share.
4. Barden purchased marketable securities for $30,000 on March 15, 20X1; one-half of the securities were later sold on December 3 20X1.
5. On June 9, 20X1, Barden issued 7600 shares of common stock for land. The common stock in land had current market values of $80,000 at the time of the transaction.
6. On July 1, 20X1, Barden declared and paid a $40,000 cash dividend.
7. On October 18, 20X1, Barden sold equipment costing $106,000, with a book value of $46,000, for $38,000 cash.

Required:

Prepare a cash flow statement using the indirect method for operating activities.