Below are the financial statements for Jacob Inc. Additional information includes the following. Equipment was sold with an original cost $50,000. Jacob Inc. issued 5,000 shares of common stock for $10.80 per share. BALANCE SHEET 12/31/20 12/31/21 Cash $32,000 $121,600 Accounts Receivable Inventory 50,000 65,000 42,000 40,000 Prepaid Expenses 2,000 8,000 Property Plant and Equipment 350,000 400,000 Accumulated Depreciation Total Assets Accounts payable Interest payable (100,000) (120,000) $376,000 $514,600 $35,000 $38,000 25,000 14,000 Long-term notes payable 35,000 40,000 Common stock ($10 par) 150,000 200,000 Paid In Capital in Excess of Par 60,000 64,000 Retained Earnings 71,000 158,600 Total Liabilities & Equities $376,000 $514,600 INCOME STATEMENT 2021 Sales $600,000 Cost of goods sold (250,000) Gross Profit 350,000 Operating Expenses: Selling and Administrative Expense (164,000) Depreciation Expense (60,000) Net Income from Operations $126,000 Loss on equipment sold (400) Interest Expense (4,000) Income before taxes 121,600 Income tax expense (14,000) $107,600 Net income after tax Required: Prepare the 2021 cash flow statement in good form using the indirect method, including any necessary footnotes, in the space provided.