Refer to the information for Solpoder Corporation on the previous page.
Solpoder Corporation has the following comparative financial statements:

Solpoder Corporation
Income Statement
For the Year Ended December 31, 2016
Sales.............................................................$ 297,000
Less: Cost of goods sold......................................(175,500)
Gross margin...................................................$ 121,500
Less: Operating expenses.......................................(58,500)
Net income.......................................................$ 63,000
Dividends of $17,100 were paid. No equipment was purchased or retired during the current year.
Required:
Prepare a statement of cash flows using the indirect method.

Solpoder Corporation Comparative Balance Sheets At December 31, 2015 and 2016 2015 2016 Assets Cash Accounts receivable, net Inventory Plant and equipment Accumulated depreciation S 49,500 135,000 27,000 180,000 (36,000) S 81,000 108,000 54,000 180,000 (45,000) 378,000 Total assets Liabilities and equity Accounts payable Common stock Retained earnings S 57,600 190,800 107,100 S355.500 $ 18,000 207,000 153,000 $378,000 Total liabilities and equity