The loss on the cash sale of equipment was $$20,125($details in b$).$

Sold equipment costing $$91,875,$ with accumulated depreciation of $$45,125,$ for $$26,625$ cash.

Purchased equipment costing $$111,375$ by paying $$60,000$ cash and signing a long$-$term notes payable for the balance.

Paid $$52,125$ cash to reduce the long$-$term notes payable.

Issued $4,000$ shares of common stock for $$20$ cash per share.

Declared and paid cash dividends of $$53,100.$

Required:

$1.$ Prepare a complete statement of cash flows using the indirect method for the current year.