The Jenkins Corporation prepared the following statement of income and comparative balance sheets:

JENKINS CORPORATION

Income Statement

For the Year Ended December 31, 2021

Sales $975,000

Less: Cost of Goods Sold 467,000

Gross Profit 508,000

Less: Depreciation expense 68,600

Other operating expenses 92,500

Plus: Gain on Sale of Equipment 55,000

Income Before Taxes 401,000

Income Taxes 60,000

Net Income $341,900

JENKINS CORPORATION

Balance Sheet

December 31

Assets 2021 2020

Cash $ 133,900 $ 5,400

Accounts Receivable 94,600 74,000

Temporary Investments 30,000 38,000

Merchandise Inventory 356,000 204,000

Property, Plant, and Equipment 400,000 350,000

Less: Accumulated Depreciation (75,600) (63,000)

Total Assets $938,900 $608,400

Liabilities and Shareholders' Equity

Accounts Payable $ 85,000 $109,400

Other Accrued Payables 62,000 79,000

Bonds Payable 140,000 140,000

Common Shares 310,000 210,000

Retained Earnings 341,900 70,000

Total Liabilities & Shareholders' Equity $938,900 $608,400

Additional data:

(1) Cash dividends of $70,000 were paid in 2021.

(2) Equipment that initially cost $140,000 was sold for $139,000 in 2021.

(3) In 2021, the company issued common shares for cash of $100,000.

Required: Prepare a Cash Flow Statement for the year ended December 31, 2021.