Assets Cash LAG Network Inc. Comparative Balance Sheet Information Accounts receivable Merchandise inventory Equipment Accumulated depreciation Total assets Liabilities and Equity Accounts payable Income taxes payable Common shares Retained earnings Total liabilities and equity $ December 31 $ 2020 81,270 50,400 273,630 162,400 (79,800) $ 487,900 39,200 19,600 371,000 58,100 $ 487,900 2019 56,000 39,200 259,000 140,000 (54,600) $ 439,600 $ 51,800 18,200 325,500 44,100 $ 439,600 Additional information regarding LAG Network Inc.'s activities during 2020: D. Equipment is purchased for $22,400 cash. b. 18,200 common shares are issued for cash at $2.50 per share. c. Declared and paid $58,800 of cash dividends during the year. Required: Prepare a statement of cash flows for 2020 that reports the cash flows and outflows from operating activities according to the ndirect method (List any deduction in cash end cash outflows as negative amounts) LAG NETWORK Cash flows from operating s Adjustments to reconcile profit to net cash flows tom Cash foes from uvesting acties J. D #48 2 8 % 3 4 C 5 D E R T C F V 182 G Fr Year Endet Decand 31, 20 6 B Y 2 H U N Prey 14 1 J 8 M 2 K COM H ( 9 O 3 Not > 0- L > 0 1/4 P . V > + -1/2 = S/A L 3 Salg FCC-32- Alt Car Ctri C > A (\) E K Home B