Use the following information for Problems 15-36 and 15-37:

Solpoder Corporation has the following comparative financial statements:

Solpoder Corporation Comparative Balance Sheets At December 31, 2015 and 2016
	2015	2016
Assets
Cash	$ 49,500	$ 81,000
Accounts receivable, net	135,000	108,000
Inventory	27,000	54,000
Plant and equipment	180,000	180,000
Accumulated depreciation	(36,000)	(45,000)
Total assets	$355,500	$378,000
Liabilities and equity
Accounts payable	$ 57,600	$ 18,000
Common stock	190,800	207,000
Retained earnings	107,100	153,000
Total liabilities and equity	$355,500	$378,000

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.

OBJECTIVE 2

Problem 15-36 Statement of Cash Flows, Indirect Method

Refer to the information for Solpoder Corporation on the previous page.

Required:

Prepare a statement of cash flows using the indirect method.