Here are comparative statements of financial position for Syal SE.

Additional information:
1. Net income for 2020 was €103,000.
2. Depreciation expense was €32,000.
3. Cash dividends of €45,000 were declared and paid.
4. Bonds payable amounting to €50,000 were redeemed for cash €50,000.
5. Ordinary shares were issued for €42,000 cash.
6. No equipment was sold during 2020.
7. Land was sold for its book value of €27,000.

Instructions
Prepare a statement of cash flows for 2020 using the indirect method.

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Syal SE Comparative Statements of Financial Position December 31 Assets 2020 2019 € 73,000 Land €100,000 200,000 Equipment Accumulated depreciation-equipment Inventory Accounts receivable 260,000 (66,000) (34,000) 187,000 170,000 85,000 71,000 Cash 73,000 33,000 Total €595,000 €557,000 Equity and Liabilities Share capital-ordinary (€1 par) Retained earnings Bonds payable Accounts payable €216,000 €174,000 136,000 200,000 194,000 150,000 35,000 47,000 €595,000 Total €557,000