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Statement of cash flows (indirect method). The following information is taken from French Corporation's financial...

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Statement of cash flows (indirect method). The following information is taken from French Corporation's financial statements: December 31 2021 2020 Cash $ 63,000 $ 27,000 102,000 80,000 Accounts receivable (4,500) (3,100) Allowance for doubtful accounts 160,000 175,000 Inventory 7.500 I 6.800 Prepaid expenses 100,000 60,000 Land Buildings 294,000 244,000 Accumulated depreciation (32,000) (13,000) Patents 20.000 35,000 $710,000 $611.700 Accounts payable $ 90,000 $ 84,000 Accrued liabilities 54,000 63,000 Bonds payable 125,000 60,000 Common stock 100,000 100.000 Retained earnings-appropriated 80.000 10.000 Retained earnings-unappropriated 276,000 302,700 _(15.000 _(8.000) Treasury stock, at cost $710.000 $611.700 For 2021 Year $78,300 Net income 19,000 Depreciation expense 5,000 Amortization of patents 35,000 Cash dividends declared and paid none Gain or loss on sale of patents W Instructions Prepare a statement of cash flows for French Corporation for the year 2021. (Use the indirect method)

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