2020 Leeds company Balance Sheet December 31, 2019 and 2020 2019 Assets Cash and Cash equivalents 200,000 Accounts receivable 50,000 Inventory 150,000 Prepaid expenses 18,000 Short term derivative assets 30,000 230,000 50,500 160,000 25,000 40,000 Total current assets 448,000 505,500 515,000 5,000 510,000 62,000 1,020,000 $ 700,000 5,500 694,500 150,000 1,350,000 $ Property, plant, and equipment Accumulated depreciation Net property, plant, and equipment Goodwill Total Assets Liabilities Accounts payable Wages payable Current portion of long-term debt Accrued expenses Total Current Liabilities Long-term debt Total Liabilities Owner's Equity Common stock: $2.5 par, shares issued and outstanding in 2019: 60,000; in 2020: 75,000 Paid in capital in excess of par Retained earnings Total Owner's Equity 22,000 6,000 15,000 7,000 50,000 150,000 200,000 $ 30,000 6,000 21,000 3,000 60,000 90,000 150,000 $ 150,000 187,500 270,000 400,000 820,000 $ 460,050 552,450 1,200,000 $ Creative company Balance Sheet December 31, 2019 and 2020 2019 2020 Assets Cash and Cash equivalents Accounts receivable Inventory Prepaid expenses Marketable securities 200,000 70,000 50,000 12,000 20,000 230,000 90,000 70,000 15,500 38,000 352,000 180,000 80,000 400,000 12,000 388,000 1,000,000 $ 443,500 200,000 70,000 300,000 13,500 286,500 1,000,000 $ Total current assets Land Investments & projects Property, machinery and equipment Accumulated depreciation Net Property, machinery and equipment Total Assets Liabilities Accounts payable Notes and loans payable Accrued expenses Total Current Liabilities Long-term debt Total Liabilities Owner's Equity Common stock: $1.75 par, shares issued and outstanding in 2019: 20000; in 2020: 25000 Paid in capital in excess of par Retained earnings Total Owner's Equity 70,000 120,000 20,000 210,000 500,000 710,000 $ 50,000 95,000 15,000 160,000 370,000 530,000 $ 35,000 43,750 85,000 170,000 290,000 $ 210,042 216,208 470,000 $ 5. Prepare the cash flow statement for both companies for the year ended December 31st, 2020, using the indirect method