Boca Inc. Balance Sheets December 31 Assets Cash Accounts Receivable Inventory Prepaid Expenses Long-term Investments Plant Assets Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts Payable Wages Payable Dividends Payable Bonds Payable Common Stock Retained Earnings Total 2020 2019 $41,400 $48,400 29,600 29,000 86,000 38,000 112,500 102,850 137,000 109,000 368,000 239,500 (50,000) (52,000) $724,500 $514,750 $16,500 $20,000 62,000 67,300 10,000 6,000 170,000 140,000 262,000 175,000 204,000 106,450 $724,500 $514,750 Additional Information: 1. Old plant assets having an original cost of $57,500 and a book value of $48,500 were sold for $50,000 cash. 2. A new plant asset was purchased directly in exchange for common stock valued at $26,000. 3. New bonds were issued at par for $38,000 4. Net income was $154,490. 5. A $1,000 prior period adjustment was recorded in 2020 correcting an overstatement of depreciation in 2015. The 2019 balance sheet is appropriately restated. 6. Long-term Investments costing $20,000 were sold for $22,000. Required 1. Prepare a 2020 statement of cash flows using the indirect method. Use the textbook format (illustrations 238, 23.12, 23.16). Do not submit supporting computations