can you please show everything step by step thank you.

E5.18 (LO 3) (Preparation of a Statement of Cash Flows, Analysis) The comparative balance sheets of Madrasah Corporation at the beginning and end of the year 2020 appear below. Madrasah Corporation Balance Sheets Assets Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Cash $ 20,000 $ 13,000 $ 7,000 Inc. Accounts receivable- 106,000 88,000 -18,000 Inc. Equipment 39,000 22,000 17,000 Inc. Less: Accumulated depreciation-equipment- --17,000 11,000 6,000 Inc. Total $148,000 $112,000 Liabilities and Stockholders' Equity Accounts payable $ 20,000 $ 15,000 -5,000 Inc. Common stock 100,000 -80,000 20,000 Inc. Retained earnings - 28,000 - -17,000 11,000 Inc. Total $148,000 $112,000 Net income of $44,000 was reported, and dividends of $33,000 were paid in 2020. New equipment was purchased and none was sold. Instructions a. Prepare a statement of cash flows for the year 2020. b. Compute the current ratio (current assets = current liabilities) as of January 1, 2020, and December 31, 2020, and compute free cash flow for the year 2020. c. In light of the analysis in (b), comment on Madrasah's liquidity and financial flexibility