3. The following comparative balance sheets and income statement are available for Omar Co. a. Prepare statement of cash flows for 2019 using the indirect method b. Analyze the statement of cash flow. OMAR CORPORATION Income Statement For the year ended December 31, 2019 Sales 99,750 Cost of goods sold 69,825 Depreciation expense 8 40 Loss on sale 210 Other operating expenses 12,600 Interest expenses 1,575 Income tax expenses 3,675 Net income 11,025 2018 ($) 8,925 12,600 14,280 40,950 11,550 11,655 76,860 OMAR CORPORATION Balance Sheet December 31, 2019 Assets 2019 ($) Cash 12,600 Account receivable 18,375 Inventories 13,125 Plant and Equipment 48,300 Accumulated depreciation - equipment 12,600 Long term investment 10,185 Total Assets 89,985 Liabilities: Account payable 11,550 income tax payable 2,625 Accrued liabilities 2,835 Long term debt 11,550 Total liabilities 28,560 Equity Capital Stock 30,000 Additional paid in capital 16,725 Retained earning 14,700 Total equity 61,425 Total liability & Shareholder's equity 89,985 8,400 3,675 1.785 13,650 27,510 22,000 15,800 11,550 49,350 6,860 7