The comparative statement of financial position for Clark Inc. as at December 31, 2020 and the statement of income for the year ended December 31, 2020 appear below: 2020 2019 Assets Cash Accounts receivable Inventory Land Equipment, net 1 Total assets $ 27,000 30,000 14,000 30,000 46,000 $147,000 $ 20,000 35,000 27,000 5,000 25,000 $112,000 Liabilities and Shareholder's Equity Trade payables Dividends payable Long-term notes payable $ 26,000 2,000 25,000 $ 20,000 10,000 16,000 Common shares Retained earnings 46,000 48,000 21,000 45,000 Total liabilities and shareholder's equity $147,000 $112,000 Revenue Cost of sales Groccnrofit $ 310,000 208,000 10200 102,000 4,000 Gross profit Gain on sale of equipment Expenses Depreciation Other expenses Total expenses Net income 8,000 88,000 96,000 $10,000 Additional information: 1. The carrying amount of the equipment at the end of 2020 and 2019 was determined as follows: 2020 2019 Equipment 59,000 40,000 Accumulated depreciation: Equipment (13,000) _(15,000) I Net carrying amount $ 46,000 $ 25,000 2. Equipment with a cost of $21,000 and accumulated depreciation of $10,000 was sold for cash during 2020. 3. Land costing $25,000 was purchased during 2020 in exchange for common shares instead of cash. There were no other non-cash transactions during 2020. Required: Prepare a statement of cash flows for the year ended December 31, 2020 using the indirect method