Using the following information, prepare a statement of cash flows following the indirect method for 2021:

	2021	2020
Net Income	$110,000
Depreciation Expense	$50,000
Gain on sale of fixed assets	$25,000
Cash	$90,000	$60,000
Accounts Receivable (current asset)	$15,000	$30,000
Inventory (current asset)	$80,000	$60,000
Fixed Assets	$180,000	$120,000
Accounts Payable (current Liability)	$60,000	$70,000

Additional Information:

FIXED ASSET INFORMATION:

1. The company paid $160,000 to acquire fixed assets during the year.
2. The company sold fixed assets and collected $75,000 cash on that sale.

DEBT/STOCK INFORMATION:

1. The company borrowed $50,000
2. The company paid dividends of $30,000
3. The company repaid $25,000 of debt principal during the year