ABC Company STATEMENTS, OF FINANCIAL POSITION Assets Dec. 31, 2020 Jan. 1, 2020 Land 5000 0 Equipment 31,000 20,000 Less: Acc. Dep. equipment 15,000 10000 Accounts receivable 120,000 90,000 Inventory 40,000 50,000 Cash 19,000 12,000 Total 200,000 162,000 Equity and Liabilities Share capital-ordinary 132,000 130,000 Retained earnings 35,000 5,000 Accounts payable 15,000 20,000 Tax payable 18,000 7,000 Total 200,000 162000 Additional information: Net income reported in 2020 was $ 50000 Dividends paid in 2020 was $ 25000 New equipment was purchased in 2020 costing $ 11,000 A land was obtained from the government as a gift $ 5000 Instructions: Prepare a statement of cash flows for the year 2020