Balance Sheet As of December 31st Assets 2020 Cash $1,550 Account Receivable 550 Inventory 1,800 Investment - Trading Securities 970 Fair Value Adjustment 70 Property Plant & Equipment 12.000 Accumulated Depreciation - PPE (4,650) Goodwill $400 Total Assets $12,690 2019 $1,100 1,200 1,300 970 10.800 (5,400) $600 $10,570 Liabilities Accounts Payable Accrued Wages Convertible Bonds Payable Bonds Payable Discount on Bonds Payable Total Liabilities Stockholders' Equity Common Stock Paid-in capital - Common Stock Retained Earnings Total Liability & Stockholders' Equity $200 800 0 3,400 (10) $4,390 $550 220 300 1,800 (12) $2,858 4,300 300 3,700 $12,690 3,100 100 4,512 $10,570 Income Statement During the Year Ended December 31st Revenues 2020 Sales Revenue $25,600 Dividend Revenue | Unrealized Holding Gain/Loss - Income Total Net Sales 110 70 $25,780 Expenses | Cost of Goods Sold Operating Expenses Interest Expense Loss due to impairment of Goodwill | Loss on sale of Machinery Total Expenses Income Before Income Tax Income Tax Expense Net Income (Loss) $21,300 4,287 45 200 70 25,902 (122) 0 $ (122) Additional Information from the 2020 accounting records: a. Harry owns a 10% of Larry Inc. which is labeled as a Trading Security that increased in market value during 2020. Larry gave out $1,100 worth of dividends to all of its owners during 2020. b. Machinery (part of the Plant Property and Equipment value) with an original cost of $1,000 was sold. Deprecation was calculated using the straight-line method and exactly 90% of its useful life was used up. c. $1,600 worth of equipment was purchased by issuing a bond. All other Property, Plant, and Equipment purchases were made in cash. d. Depreciation is included as part of Operating Expense. e. 100% of Convertible bonds were exchanged for 100 shares of $1 par common stock. Required: Prepare the statement of cash flow under the indirect method. Your finished product should have all the information disclosed on a formal statement, including a list of noncash transactions. (17 points)