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Assets: Cash Accounts receivable Inventory Long-term Investments Equipment Accumulated depreciation equipment Marat Company Balance Sheet...

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Accounting

Assets: Cash Accounts receivable Inventory Long-term Investments Equipment Accumulated depreciation equipment Marat Company Balance Sheet As of December 31 2020 $ 80,000 2019 $ 51,000 135,000 122,000 75,000 61,000 55,000 85,000 215,000 193,000 (58,000) 40,000 $542.000 (42,000) 25,000 $495.000 Land Total Assets Liabilities & Owners' Equity: Accounts payable $ 70,000 $ 60,000 Income taxes payable 12,000 Notes payable (5 year) 62,000 10,000 70,000 Common stock 310,000 Retained earnings 88,000 Total Liabilities & Owners' Equity $542.000 260,000 95,000 $495.000 Additional data for 2020: a. Equipment that cost $10,000 was sold for a loss of $3,000. b. Investments that cost $35,000 were sold for a gain of $15,000. c. Net income $67,000. d. Depreciation expense $20,000. Required: Prepare a Statement of Cash Flows for the year ended December 31, 2020, using the indirect method. Show all supporting calculations

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