The comparative balance sheets for Russell Company appear below:

RUSSELL COMPANY Comparative Balance Sheet
				Dec. 31, 2020				Dec. 31, 2019
		Assets
Cash					$38,000				$13,000
Accounts receivable					18,000				14,000
Inventory					25,000				15,000
Prepaid insurance					7,000				9,000
Land					-0-				18,000
Equipment					60,000				30,000
Accumulated depreciation-equipment					(18,000	)			(14,000	)
Total assets					$130,000				$85,000
Liabilities and Stockholder's Equity
Accounts payable					$25,000				$7,000
Bonds payable					37,000				45,000
Common stock					40,000				23,000
Retained earnings					28,000				10,000
Total liabilities and stockholder's equity					$130,000				$85,000

Additional information:
1.		Net income for the year ending December 31, 2020, was $30,000.
2.		Cash dividends of $12,000 were declared and paid during the year.
3.		Land on balance sheet that had a book value of $18,000 was sold for $13,000.
4.		No equipment was sold during the year.

(a)

Prepare the Operating section of the statement of cash flows using indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

RUSSELL CORPORATION Statement of Cash Flows (Partial) December 31, 2020For the Year Ended December 31, 2020For the Month Ended December 31, 2020
Select an opening name for section one Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select an item Issuance of Common StockLoss on Sale of LandIncrease in Accounts ReceivableDecrease in Prepaid InsuranceGain on Sale of LandDecrease in Accounts PayableRetirement of Bonds PayableIncrease in Prepaid InsurancePurchase of EquipmentDecrease in Accounts ReceivableIncrease in Accounts PayableNet IncomePayment of Cash DividendsDepreciation Expense		$Enter a dollar amount
Adjustments to reconcile net income to
select an opening subsection name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Select an item Decrease in InventoryLoss on Sale of LandIncrease in InventoryDecrease in Prepaid InsurancePayment of Cash DividendsDecrease in Accounts ReceivableIncrease in Accounts PayableIncrease in Accounts ReceivableDecrease in Accounts PayablePurchase of EquipmentRetirement of Bonds PayableIncrease in Prepaid InsuranceNet IncomeDepreciation ExpenseIssuance of Common StockGain on Sale of Land	$Enter a dollar amount
Select an item Increase in InventoryGain on Sale of LandIncrease in Accounts ReceivableNet IncomeIncrease in Accounts PayableDecrease in Accounts PayableDecrease in Prepaid InsurancePurchase of EquipmentRetirement of Bonds PayablePayment of Cash DividendsLoss on Sale of LandIssuance of Common StockIncrease in Prepaid InsuranceDepreciation ExpenseDecrease in Accounts ReceivableDecrease in Inventory	Enter a dollar amount
Select an item Decrease in Accounts PayableIncrease in Accounts ReceivablePayment of Cash DividendsIncrease in Prepaid InsuranceIncrease in Accounts PayableDecrease in Accounts ReceivableDecrease in InventoryIncrease in InventoryIssuance of Common StockPurchase of EquipmentDecrease in Prepaid InsuranceNet IncomeLoss on Sale of LandRetirement of Bonds PayableDepreciation ExpenseGain on Sale of Land	Enter a dollar amount
Select an item Decrease in Prepaid InsuranceLoss on Sale of LandGain on Sale of LandPurchase of EquipmentPayment of Cash DividendsRetirement of Bonds PayableNet IncomeIncrease in Accounts PayableDepreciation ExpenseDecrease in Accounts ReceivableIssuance of Common StockDecrease in Accounts PayableIncrease in InventoryIncrease in Accounts ReceivableDecrease in InventoryIncrease in Prepaid Insurance	Enter a dollar amount
Select an item Retirement of Bonds PayableLoss on Sale of LandIncrease in InventoryPurchase of EquipmentDepreciation ExpenseNet IncomePayment of Cash DividendsIncrease in Accounts PayableIssuance of Common StockDecrease in Accounts ReceivableDecrease in Accounts PayableIncrease in Accounts ReceivableDecrease in InventoryGain on Sale of LandIncrease in Prepaid InsuranceDecrease in Prepaid Insurance	Enter a dollar amount
Select an item Increase in InventoryLoss on Sale of LandDecrease in Accounts ReceivableDecrease in Prepaid InsuranceNet IncomeDecrease in Accounts PayableIssuance of Common StockGain on Sale of LandDecrease in InventoryIncrease in Accounts PayableRetirement of Bonds PayableDepreciation ExpensePayment of Cash DividendsIncrease in Prepaid InsurancePurchase of EquipmentIncrease in Accounts Receivable	Enter a dollar amount
		Enter a total amount for this subsection
Select a closing name for section one Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		Enter a total amount for section one