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The comparative balance sheets of Oriole Corporation at the beginning and end of the year 2020 appear below. ORIOLE CORPORATION BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $21,680 $14,700 $6,980Inc. Accounts receivable 107,680 89,700 17,980Inc. Equipment 40,680 23,700 16,980Inc. Less: Accumulated Depreciation Equipment (17,000) (11,000). 6,000Inc. Total S153,040 S117,100 Liabilities and Stockholders' Equity Accounts payable $21,680 $16,700 4,980Inc. Common stock 101,680 81,700 19,980Inc. Retained earnings 29,680 18,700 10,980Inc. Total $153,040 S117,100 Net income of $45,680 was reported, and dividends of $34,700 were paid in 2020. New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) ORIOLE CORPORATION Statement of Cash Flows Adjustment to reconcile net income to Compute the current ratio (current assets + current liabilities) as of January 1, 2020, and December 31, 2020. (Round ratios to 1 decimal place., e.g. 4.5.) December 31, 2020 January 1, 2020 Current ratio Compute free cash flow for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Free Cash Flows In light of the analysis in (part b), comment on Oriole's liquidity and financial flexibility. Free Cash Flow C o ntbl. comment on Oriole's liquidity and financial flexibility. Oriole company has liquidity and financial flexibility

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