1 Following are the comparative Balance sheet and Income statement of Sajid Inc. Sajid Inc. Comparative balance Sheet For the year ended December 31 December 31, 2020 Particulars Assets Cash Accounts Receivable Inventory Equipment Total Assets Liabilities & Equity Accounts payable Income tax payable Common stock, Rs 10 par Additional paid-in Capital Retained earnings Total Liabilities & Equity 2020 2019 521,250 318,500 194,250 232,500 1,773,500 1,398,750 571.250 459.000 3,060,250 2,408,750 382,500 356,750 45,000 67,500 1,650,000 1,500,000 420,000 150,000 562,750 334,500 3,060,250 2,408,750 Sajid Inc. Income statement (10Marks) For the year ended Particulars Sales Cost of goods sold Gross profit Operating expenses: Depreciation expenses Other operating expenses Profit before income taxes Income tax expenses Net profit Additional information for 2020: i).Purchased of equipment for cash Rs.289,250 ii). Issued 15,000 shares of common stock for cash, iii). Declared and paid Rs. 480,000 cash dividend. Instruction: Prepare a statement of cash flows using the indirect method for the year 2020. 2020 6,098,500 2,790,000 3,308,500 177,000 1,974,750 1,155,750 448,500 708,250