Change 2. Nichol Corporation's comparative balance sheets are presented below. NICHOL CORPORATION Comparative Balance Sheets December 31 2020 2012 Cash $ 12,200 $ 17,700 Accounts receivable 25,200 22,300 Investments 25,000 16,000 Equipment 60,000 70,000 Accumulated depreciation (14,000) (10,000) Total $108.400 $116,000 Accounts payable $ 14,600 $11,100 Bonds payable 10,000 30,000 Common stock 50,000 45,000 Retained earnings 33.800 29.900 Total $108.400 $116.000 Additional information: 1. Net income was $17,300. 2. Depreciation expense was $6200 (only non-cash item on Income Statement) 3. Cash dividends paid of $13,400. 4. Equipment which cost $10,000 and had accumulated depreciation of $2,200 was sold for $3,800. 5. Purchased Long-term investments for $9,000. 6. Paid off $20,000 of Bonds payable with cash. 7 Issued $5,000 of common stock for cash. (a) Prepare a statement of cash flows for 2020 using the Indirect method. (See below) NICHOL CORPORATION Statement of Cash Flows Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Net cash by operating activities Cash flows from Investing activities Net cash by investing activities. Cash flows from financing activities MacBook Air 80 F3 888 00 17 DW a %23 $ % & 2 3 6 2. we Net cash by financing activities . Net in cash Cash at beginning of period Cash at end of period