Windsor Inc. had the following balance sheet at December 31, 2019.

WINDSOR INC. BALANCE SHEET DECEMBER 31, 2019
Cash		$21,100		Accounts payable		$31,100
Accounts receivable		22,300		Notes payable (long-term)		42,100
Investments		33,100		Common stock		101,100
Plant assets (net)		81,000		Retained earnings		24,300
Land		41,100				$198,600
		$198,600

During 2020, the following occurred.

1.		Windsor Inc. sold part of its debt investment portfolio for $15,216. This transaction resulted in a gain of $3,616 for the firm. The company classifies these investments as available-for-sale.
2.		A tract of land was purchased for $14,100 cash.
3.		Long-term notes payable in the amount of $16,216 were retired before maturity by paying $16,216 cash.
4.		An additional $20,216 in common stock was issued at par.
5.		Dividends of $8,416 were declared and paid to stockholders.
6.		Net income for 2020 was $33,100 after allowing for depreciation of $11,216.
7.		Land was purchased through the issuance of $36,100 in bonds
8.		At December 31, 2020, Cash was $38,100, Accounts Receivable was $42,700, and Accounts Payable remained at $31,100.

Prepare a statement of cash flows for 2020.

WINDSOR INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 33,100 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 11,216 Gain on Sale of Investments 3,616 Increase in Account Receivable 20,400 Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Investments Sale of Investments Net Cash Used by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends Retirement of Notes Payable Issuance of Common Stock