The following are comparative balance sheets and an income statement for Winnes Company.

Winnes Company Balance Sheets as of December 31
Assets	2020	2019
Cash	$21,500	$120,000
Accounts receivable	195,000	105,000
Inventory	180,000	225,000
Long-term investments	0	60,000
Totals	$396,500	$510,000
Liabilities and shareholders' equity
Accounts payable	$75,000	$120,000
Operating expenses payable	24,000	15,000
Bonds payable	70,000	100,000
Common stock	125,000	125,000
Retained earnings	102,500	150,000
Totals	$396,500	$510,000

Winnes Company Income Statement For the Year Ended December 31, 2020
Sales		$560,000
Cost of goods sold:
Beginning inventory	$225,000
Purchases	330,000
Goods available for sale	555,000
Less: ending inventory	180,000
Cost of goods sold		375,000
Gross profit		185,000
Operating expenses		180,000
Income from operations		5,000
Other expenses:
Loss on sale of long-term investment		(7,500)
Net loss		($2,500)

Cash dividends of $45,000 were paid in 2020.

Required:

Prepare a statement of cash flows for 2020 using the indirect method.