Cash$20,500$12,500 Accounts receivable34,00025,500 Inventories 20,00030,000 Prepaid insurance2,5002,000 Equipment102,00090,000 Accumulated depreciation-equipment (22.500 (12,500) Total assets $156,500$147.500 Accounts payable $23,000$20,000 Wages payable4,0002,000 Interest payable2,0003,000 Income taxes payable4,0005,000 Long-term note payable30,00034,500 Common shares65,00065,000 Retained earnings 28,500 18.000 Total liabilities and shareholders' equity$156,500$147,500 Additional information: Net income for the fiscal year was $13,500. Equipment that cost $10,000 and was sold for a gain of $1,000 during 2020. The equipment's accumulated depreciation was $7.000. Prepare the statement of cash flows using the indirect format. Cash$20,500$12,500 Accounts receivable34,00025,500 Inventories 20,00030,000 Prepaid insurance2,5002,000 Equipment102,00090,000 Accumulated depreciation-equipment (22.500 (12,500) Total assets $156,500$147.500 Accounts payable $23,000$20,000 Wages payable4,0002,000 Interest payable2,0003,000 Income taxes payable4,0005,000 Long-term note payable30,00034,500 Common shares65,00065,000 Retained earnings 28,500 18.000 Total liabilities and shareholders' equity$156,500$147,500 Additional information: Net income for the fiscal year was $13,500. Equipment that cost $10,000 and was sold for a gain of $1,000 during 2020. The equipment's accumulated depreciation was $7.000. Prepare the statement of cash flows using the indirect format