2. Jake Corporation's income statement for the year ended March 31, 2020 is given below. Sales S122.000 Cost of goods sold 74.050 Gross margin 47.950 Less: Operating expenses 22.500 Operating income 25,450 Interest expense 1.400 Income before takes 24.050 Taxes 6,150 Net income 17.900 The balance sheet for the year ending March 31, 2019 and 2020 are as follows: 2020 2019 ASSETS Cash 69,900 12.500 Accounts receivable 21.000 26.000 Inventory 43,400 48,400 Prepayments 3.200 2,600 Furniture 55,000 60,000 Less: Accumulated depreciation on Fumiture 9,000 5.000 183.500 144.500 Accounts payable Taxes payable Notes payable Common Stock Retained carnings 13,000 14,000 1.200 1.800 37,000 35.000 115.000 90.000 17.300 3.700 183.500 144.500 The following information is also given: . The company issued S22,000 of notes payable to acquire furniture. b. Depreciation expenses recorded on furniture for the year amounted to $19,300 c. Repaid notes during the year $20,000 d. Furniture costing $27,000 with accumulated depreciation of $15,300 was sold at book value. c. Dividends declared and paid during the year amounted to S 4,300 REQUIRED: Prepare a Cash Flow Statement for 2020 in proper form for Jake Corporation. [18]