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The comparative balance sheets of Timothy, Inc., are presented for December 31, 2019, and December 31,...

The comparative balance sheets of Timothy, Inc., are presented for December 31, 2019, and December 31, 2018, (in thousands of dollars). Timothy, Inc. earned $25 thousand after taxes in 2019, incurred depreciation expense of $19 thousand, and paid common dividends of $16 thousand.

Equipment costing $12 thousand was purchased during the year.

2019

2018

Cash

$ 66

$ 67

Accounts receivable, net

91

86

Inventories

     43

     39

Current assets

$ 200

$ 192

Net property, plant and equipment

     72

     79

Total Assets

$ 272

$ 271

Accounts payable

$ 33

$ 41

Notes payable - short term

62

71

Long-term debt

22

13

Common stock

80

80

Retained earnings

     75

     66

Total liabilities and stockholder's equity

$ 272

$ 271


      Prepare a statement of cash flows under the indirect method

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