Can I have a solution for this, please?

QUIZ Time Left:0:34:33 Kiranveer Kaur: Attempt 1 Question 1 (16 points) Information from Pinewood Lodge Inc.'s financial statements is as follows: Balance Sheet 2020 2019 Change Assets Cash 59.200 $ 2.500 12,000 $8,700 (3.000) Accounts receivable 9.000 7.000 5,000 Inventory 12.000 12.000 2.000 Equipment 14,000 Accumulated depreciation (1500) 7.500) $36,700 16.000 $27.500 Total Assets Liabilities and Equity Accounts payable 20.000 13.000 4000 7.000 Wages payable 14.000 500 Common shares 500 5.700 Retained earnings Toto Liabes und Equity 15.700 57000 Income Statement Revenues 50 DOO 2020 Income Statement Revenues Sales $70,000 25.000 Cost of goods sold 45.000 Gross pro Expenses Depreciation expense 2.000 500 3 Income tax expense. 24.000 Operating expenses Loss on disposal of equipment Total Expenses Prom $15.200 Additional information for year ending December 31 2020: Purchase equipment costing 55,000 for cash old equipment for 200 cash that had an online cost of 51 000 and accumulated depreciation of Required the indirect method