A simplified balance sheet for Galaxy Cafe Inc. contain the following amounts at the end of 2019 and 2020. Galaxy Cafe Inc. Balance Sheet As at August 31 2020 2019 Assets Current Assets Cash $6,000 $9,300 Accounts Receivable $19,300 $8,600 Prepaid Rent $2,200 $1,700 Food & Beverage Inventory $31,500 $19,600 Total Current Assets $59,000 $39,200 Long-Term Assets Equipment $185,000 $163,000 Accumulated Depreciation $-27,000 $-16,200 Total Long-Term Assets $158,000 $146,800 Total Assets $217,000 $186,000 Liabilities Current Liabilities $23,100 $23,100 Long-Term Liabilities $28,000 $44,000 Total Liabilities $51,100 $67,100 Shareholders' Equity Common Shares $90,000 $69,000 Retained Earnings $75,900 $49,900 Total Shareholders' Equity $165,900 $118,900 Total Liabilities and Equity $217,000 $186,000 Assume current liabilities include only items from operations (e.g., accounts payable, taxes payable). Long-term liabilities include items from financing (e.g. bonds and other long-term liabilities). Note that the company did not sell any equipment and did not borrow any additional long-term liabilities throughout the year. Prepare the cash flow statement for 2020 using the indirect method. Assume no dividends were declared or paid in 2020. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Galaxy Cafe Inc. Cash Flow Statement For the Year Ended August 31, 2020 Cash Flow from Operations Net Income Answer Adjustments for Non-Cash Items Depreciation Expense Answer Change in Current Assets and Current Liabilities Increase in Accounts Receivable Answer Increase in Prepaid Rent Answer Increase in Food & Beverage Inventory Answer Net Cash Provided (Used) by Operating Activities Answer Cash Flow from Investing Activities Purchase of Equipment Answer Net Cash Provided (Used) by Investing Activities Answer Cash Flow from Financing Activities Issuance of Common Shares Answer Repayment of Long-Term Liabilities Answer Net Cash Provided (Used) by Financing Activities Answer Net Increase (Decrease) in Cash Answer Cash at the Beginning of the Year Answer Cash at the End of the Year