Alex Company reported the following information for 2020. Alex Company Comparative Balance Sheets December 31 Assets 2020 Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Totals $55,000 60,000 49,000 5,000 58,000 189,000 (18,000) 203,000 (29,000) $572,000 2019 $35,000 22,000 -O- 4,000 76,000 189.000 (12,000) 72,000 (9,850) $376.150 Change Increase/Decrease $20,000 Increase 38,000 Increase 49,000 Increase 1,000 Increase 18,000 Decrease -O- 6,000 Increase 131,000 Increase 19.150 Increase Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock ($1 par) Retained earnings Totals $44,000 -0- 103,000 249,000 176,000 $572,000 $39,000 11,000 142.000 66,000 118,150 $376,150 $5,000 11,000 39,000 183,000 57,850 Increase Decrease Decrease Increase Increase Alex Company Income Statement For the Year Ended December 31, 2020 Sales revenue $855,000 Cost of goods sold $467,000 Operating expenses 224,000 Interest expense 13,000 Loss on disposal of plant assets 2.000 706,000 Income before income taxes 149,000 Income tax expense 72.000 Net income $77,000 Additional information: 1. 2. 3 Operating expenses include depreciation expense of $38,150. Land was sold at its book value for cash. Cash dividends of $19,150 were declared and paid in 2020, Equipment with a cost of $177,000 was purchased for cash. Equipment with a cost of $46,000 and a book value of $33 was sold for $31,000 cash. Bonds of $39.000 were redeemed at their face value for cash. Common stock ($1 par) of $183,000 was issued for cash 5. 6 Use this information to Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis e.s. (15,000).) ALEX COMPANY Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to