The records of Medical Software Inc. for the company’s 2020 fiscal year end show the following financial information. The company has a December 31 year end and has chosen to use ASPE for its financial reporting. All amounts reported are in thousands of dollars.

Medical Software Inc.
Balance sheet As at December 31
(’000s)

Year	2020	2019
Cash	$2,990	$1,500
Accounts receivable, net	4,000	3,770
Inventory	2,010	2,060
Prepaid expenses	460	470
Investments	750	200
Intangible assets	6,480	6,000
Property, plant, and equipment	6,100	5,000
Accumulated depreciation and amortization	(2,200)	(2,000)
Total	$20,590	$17,000
Trade and other payables	$6,790	$7,000
Deferred revenue	2,100	2,000
Long-term notes payable	1,300	----
Common shares	7,000	4,000
Retained earnings	3,400	4,000
Total	$20,590	$17,000

Medical Software Inc.
Income statement For the year ended December 31, 2020
(’000s)

Sales	$3,600
Cost of goods sold	500
Gross profit	3,100
Depreciation	700
Development costs	600
Gain on sale of property, plant, and equipment	(400)
Other expenses	500
Total expenses	1,400
Net income	$1,700

Additional information:
• Property, plant, and equipment with a cost of $1,000 and an accumulated depreciation balance of $500 was sold on June 30, 2020.
• During the year, the company issued shares with a value of $1,800 in exchange for property, plant, and equipment.
• Included in other expenses is an impairment loss of $300 due to a permanent decline in the fair value of investments held by the company.
• As at December 31, 2020, the company had an allowance for doubtful accounts balance of $400 (December 31, 2019 — $300). Included in other expenses for the year ended December 31, 2020, is $200 for bad debt expense.
Required:
Prepare the cash flow statement of Medical Software for the year ended December 31, 2020, using the indirect method.