Chapter 13 Homework Note: All homework assignments must be submitted through the Blackboard course site. Question 2: (1 point): Listed below are the comparative balance sheets for the current year (20X2) and for the prior year (20X1) of Johnson Corporation. 12/31/20X2 12/31/20X1 $ 36,000 Cash $59,000 Accounts receivable 45,000 27,000 29,000 41,000 Inventory Prepaid expenses 5,000 200,000 10,000 230,000 Investments Plant and equipment Accumulated depreciation 535,000 (297,000 $576,000 520,000 (270,000 $594,000 Total Assets $ 19,000 $33,000 Accounts payable Salaries payable Taxes payable Bonds payable Common stock 37,000 27,000 20,000 30,000 10,000 130,000 130,000 100,000 Retained earnings Total Liabilities and Equity 353,000 $576,000 281,000 $594,000 Additional data for the current year are as follows: Net Income, $98,000 Depreciation, $27,000 Cash dividends declared and paid, $26,000 Investments costing $30,000 were sold for $70,000. Required: Using the indirect method, calculate the cash flows from operating activities. When entering the answers in Blackboard, omit $ signs, and use the minus sign for negative amounts