Assets 2020 RCES 17 Video ssion) Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total $34,350 32,600 26,350 59,250 (29,700) $122,850 2019 $19,600 18,600 20,750 77,800 (23,400) $113,350 Study Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,150 7,050 27,700 17,200 42,750 $122,850 $ 16,850 8,350 33,950 13,850 40,350 $113,350 NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,900 175,950 65,950 24,000 41,950 3,300 38,650 8,450 $30,200 Additional data: 1. Dividends declared and paid were $27,800. 2. During the year, equipment was sold for $7,650 cash. This equipment cost $18,550 originally a 3. All depreciation expense, $17,200, is in the operating expenses 4. All sales and purchases are on account Type here to search o RI DIO FT F2 F3 F4 F5 F6 (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decreas NOSKER COMPANY Statement of Cash Flows Adjustments to reconcile net income to