Prepare a statement of cash flows using indirect method. (show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).)

BRECKER INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,000 $7,000 Accounts receivable 62,000 51.000 Short-term debt investments (available-for-sale) 35,000 18,000 Inventory 40,000 60,000 5,000 4,000 Prepaid rent Equipment 154,000 130,000 Accumulated depreciation-equipment (35,000) (25,000) Copyrights 46,000 50.000 Total assets $313,000 $295.000 Accounts payable $46,000 $40,000 4,000 6.000 8,000 4,000 Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable 8,000 10.000 60,000 69,000 Common stock, $10 par 100,000 100,000 30,000 30,000 Contributed capital, common stock Retained earnings 57,000 36,000 Total liabilities & stockholders' equity $313,000 $295,000 BRECKER INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $338,150 175,000 Cost of goods sold Gross profit 163,150 120,000 Operating expenses Operating income Interest expense 43,150 $11,400 2,000 9,400 Gain on sale of equipment Income before tax 33,750 Income tax expense 6,750 Net income $27,000 Additional information: 1. Dividends in the amount of $6,000 were declared and paid during 2020. Depreciation expense and amortization expense are included in operating expenses. 2. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $20,000 and was 70% depreciated was sold during 2020