Ended on Dec $3120202019$Cash$45,00027,000$Accounts receivable$95,00080,000$Allowance for doubtful accounts$(16,500)(3,100)$inventory$145,000175,000$Prepaid expenses$7,5006,800$Land$63,00060,000$Buildings$317,000244,000$Accumulated depreciation$(21,000)(13,000)$Equipment Under Lease$26,0000$Patents, net of accumulated amortization$54,00035,000$Total Assets$715,000611,700$Accounts payable$92,00084,00066,00063,000$Accrued liabilities$26,0000$Lease Liability$113,00060,000$Bonds payableCommon shares$95,00092,000$Retained earnings$323,000312,700$Total Liabilities & Shareholders' Equity$715,000611,700$Other InformationFor the year ending Dec $31,2020$Net income$50,300$Depreciation expense$22,000$Amortization of patents$33,000$Cash dividends declared and paid$40,000$Gain or loss on disposal of patentsnoneLand Transaction: Fair Value of the land purchased in $2020$ is $$33,000.$ $$23,000$ cash was paid for the land and the rest of the amount was paid by is A piece of land was sold by the company during the year, the company had a gain of $6,000$ from the sale of the land.A Building that had original cost of $30,000$ and accumulated depreciation of $14,000$ was sold for $13,000$ on Jan $1,2020.$Bad debt expense was calculated as a percentage of sales, no bad debt was written off in $2020.$ Bad debt expense should be considered as non$-$cas The company signed a lease agreement on Dec$31,2020$ to lease a piece of equipment for two years. The firstpayment of $28,000$ for the lease was Paid on the next date

Prepare cash flow statement using indirect method