2019 Question 4 The following are the financial statements of Nosker Company NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 Cash $34,800 Accounts receivable 32,350 Inventory 26,350 Equipment 59,500 Accumulated depreciation-equipment (29,800) Total $123,200 $20,050 18,900 20,600 77,300 (23,800) $113,050 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,800 7,400 26,300 17.100 43.600 $123,200 $ 16,450 8,400 33,850 13,95 40,400 $113,OSO NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,750 175,00 66,350 23,750 42,500 2.100 40,500 7,200 $33,300 Additional data: 1. Dividends declared and paid were $30,100. 2. Duning the year, equipment was sold for $8,350 cash. This equipment cost $17,600 originally and had a book value of $8,350 at the time of sale. 3. All depreciation expense, $15,450, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the Indirect method. (Show amount that decrease cash flow with ether neg. 15,000 or in parentheshe. (15,000).) NOSKER COMPANY Statement of Cash Flows Adjustments to reconcile net income to