The comparative statement of financial position for Blossom Retailers Ltd. follows:

BLOSSOM RETAILERS LTD. Statement of Financial Position December 31 Assets 2021 2020 Cash $ 15,000 $ 8,000 Accounts receivable 45,000 37,000 Inventory 163,000 138,000 Furniture 155,000 75,000 Accumulated depreciation (39,000 ) (19,000 ) Total assets $ 339,000 $ 239,000 Liabilities and Shareholders Equity Accounts payable $ 40,000 $ 30,000 Bank loan payable (current portion) 15,000 14,000 Bank loan payable (noncurrent portion) 81,000 57,000 Common shares 55,000 50,000 Retained earnings 148,000 88,000 Total liabilities and shareholders equity $ 339,000 $ 239,000

Additional information regarding 2021:

1. Net income was $60,000. 2. Depreciation expense was $20,000. 3. Payments made to the bank pertaining to the bank loan were $10,000. The company obtained some new bank loans during the year. 4. Common shares were issued during the year and the company did not buy back any shares. 5. During the year, the company did not sell any furniture.

(a)

Prepare a statement of cash flows using the indirect method for 2021.