The following information relates to the Cisco Corporation forthe years ended December 31.

Cisco Corporation

Comparative Balance Sheets

December 31

Assets	2019		2018
Cash	$ 92,700		$ 33,400
Accounts receivable	70,800		37,000
Inventory	131,900		102,650
Investments	84,500		107,000
Equipment	310,000		205,000
Accumulated depreciation - equipment	(49,500)		(40,000)
Total	$640,400		$445,050
Liabilities and Stockholders’ Equity
Accounts payable	$ 62,700		$ 48,280
Accrued expenses payable	15,100		18,830
Bonds payable	140,000		70,000
Common stock	250,000		200,000
Retained earnings	172,600		107,940
Total	$640,400		$445,050

Cisco Corporation Income Statement For the Year Ended December 31, 2019
Sales revenue	$		$297,500
Gain on sale of plant assets			5,000
			302,500
Less:
Cost of goods sold	$119,460
Operating expense excluding depreciation	14,670
Depreciation expense	35,500
Income tax expense	27,270
Interest expense	2,940		199,840
Net income			$102,660

Additional information:

1.   New equipment costing $141,000 werepurchased for cash during the year.

2.   Investments were sold at cost.

3.   Old equipment costing $36,000 weresold for $15,000. The equipment had a book value of $10,000 at thetime of the sale..

4.    A cash dividend of $38,000was declared and paid during the year

Instructions:

Prepare a statement of cash flows for the year ended December31, 2019 using the indirect method.