Based on the following information, prepare the cash flow statement using the indirect method. income statement Sales cost of goods sold gross profit 360,000 205,000 155,000 salaries expense depreciation expense interest expense rent expense loss on equipment total expenses operating income 44,000 15,000 1,400 48,000 2,000 110,400 44,600 0 net income 44,600 $ Statement of Retained Earnings Beginning Balance - Retained Earnings Plus - Net Income Less - Dividends Ending Balance - Retained Earnings 145,900 44,600 (3,200) 187,300 $ Balance sheets Balance sheets 2020 2021 change Assets: Cash Accounts Receivable Inventory prepaid expenses Equipment 34,400 81,600 70,800 1,300 87,000 87,800 161,600 15,800 7,300 95,000 53,400 80,000 (55,000) 6,000 8,000 (9,000) Accum. Depr - Equipment total assets (33,500) 241,600 (42,500) 325,000 Liabilities: Accounts Payable accrued Liabilities 38,700 7,000 83,700 9,000 45,000 2,000 Based on the following information, prepare the cash flow statement using the indirect method. income statement Sales cost of goods sold gross profit 360,000 205,000 155,000 salaries expense depreciation expense interest expense rent expense loss on equipment total expenses operating income 44,000 15,000 1,400 48,000 2,000 110,400 44,600 0 net income 44,600 $ Statement of Retained Earnings Beginning Balance - Retained Earnings Plus - Net Income Less - Dividends Ending Balance - Retained Earnings 145,900 44,600 (3,200) 187,300 $ Balance sheets Balance sheets 2020 2021 change Assets: Cash Accounts Receivable Inventory prepaid expenses Equipment 34,400 81,600 70,800 1,300 87,000 87,800 161,600 15,800 7,300 95,000 53,400 80,000 (55,000) 6,000 8,000 (9,000) Accum. Depr - Equipment total assets (33,500) 241,600 (42,500) 325,000 Liabilities: Accounts Payable accrued Liabilities 38,700 7,000 83,700 9,000 45,000 2,000