The partial comparative balance sheets for Jackson Corporation are shown below

December 31

2020 2019

Debits

Inventory 8,000 14,000

Equipment 94,000 80,000

Credits

Accumulated depreciation 24,000 22,000

Notes Payable 50,000 42,000

Dividends payable -0- 5,000

1. Net income for the year was $85,000

2. Equipment that had cost $15,000 and was 80 percent depreciated was sold for $4,700

3. A note payable was issued in the amount of $29,000 for equipment.

Based on the above information, list the required entries for the operating, investing, and financing section of a statement of cash flows, using the indirect method.