$6.$ Condensed financial data of Minnie Hooper Company are shown below.

Minnie Hooper Company

Comparative Balance Sheet

December $31$

Assets $20202019$

Cash $$93,600$ $$33,400$

Accounts receivable $63,20037,000$

Inventory $124,500102,650$

Investments $79,500107,000$

Plant assets $318,000205,000$

Accumulated depreciation $(44,000)(40,000)$

Total

$$634,800$ $$445,050$

Liabilities and Stockholders$$ Equity $20202019$

Accounts payable $$56,600$ $$48,280$

Accrued expenses payable $15,10018,830$

Bonds payable $140,00070,000$

Common stock $250,000200,000$

Retained earnings $173,100107,940$

Total

$$634,800$ $$445,050$

Minnie Hooper Company

Income Statement

For the Year Ended December $31,2020$

Sales revenue $$297,500$

Less:

Cost of goods sold $$99,460$

Operating expenses, excluding

depreciation expense

$19,670$

Depreciation expense $25,000$

Loss on disposal of plant assets $5,000$

Income taxes $37,270$

Interest expense $2,940189,340$

Net income $$108,160$

Additional information:

$1.$ New plant assets costing $$149,000$ were purchased for cash during the year.

$2.$ Investments were sold at cost$.$

$3.$ Plant assets costing $$36,000$ were sold for $$10,000,$ resulting in a loss of $$5,000.$

$4.$ A cash dividend of $$43,000$ was declared and paid during the year.

Instructions

Prepare a statement of cash flows using the indirect method.