The following are accounting items taken from the records of Sterling Company for 2016:

Payment of dividends	$24,000
Decrease in accounts payable	$19,000
Decrease in accounts receivable	$21,000
Increase in inventories	$ 6,000
Increase in salaries payable	$18,000
Net income	$42,000
Payment for purchase of land and buildings	$60,000
Issuance of ten-year bonds payable at par	$20,000
Depreciation expense	$10,000
Proceeds from sale of patent rights	$27,000

Required: Prepare the statement of cash flows for Sterling Company for 2016 using the indirect method.