4. Danson, Inc. has prepared the following comparative balance sheets for 2018 and 2019: Cash Accounts receivable, net Inventory Prepaid expenses Income tax refund receivable Plant assets Accumulated depreciation Trademark 2019 333,000 105,000 147,000 18,000 6,000 1,095,000 (402,000) 150.000 1,452,000 2018 218,000 117.000 180,000 17.000 8,000 1,050,000 (375,000) 174.000 1,389,000 $ $ $ 157,000 60,000 120,000 168,000 42,000 Accounts payable Accrued liabilities Note payable Mortgage payable Deferred income taxes Preferred stock Additional paid-in capital preferred Common stock Retained earnings 450,000 63,000 56,000 180,000 120,000 500,000 259,000 1,452,000 500,000 166,000 1,389,000 $ $ A total of $200,000 of new plants assets were purchased during 2019. Of this total $140,000 was financed with long-term debt and the remainder was paid in cash. A total of $20,000 of principal (on the $140,000 note payable from 1) was paid during 2019. One plant asset was sold $22,000 and a loss of $8,000 was properly recognized The mortgage was fully paid in cash during 2019. No additional costs related to trademarks were capitalized during 2019 The income statement for 2019 is as follows: Sales revenue Cost of sales Gross profit Operating expenses Operating income before taxes Loss on sale of equipment Income before taxes Income taxes Net income $ 1,980,000 1,089,000 891,000 574.000 317,000 8.000 309,000 77.250 $ 231,750 Required: Prepare a statement of cash flows (indirect method) for the year ended December 31, 2019