CHAPTER 16 Cash Flow Statement December 31, 2020 and 2019 is as balance sheet of Hinson Enterprises. for Dec. 31, 2019 Dec. 31, 2020 $157,325 211,750 261,800 8,400 469,875 (115,675) 128,275 196,525 281,400 11.725 573,125 Cash Accounts Receivable (Net) 149,450) Accumulated Depreciation-Equip. $993,475 $1,041,600 Liabilities and Stockholders Equity 218,925 Accounts Payable (merchandise creditors) Mortgage note payable 207,900 294,000 21,000 280,000 190,525 91,000 455,000 276,675 Common Stock, $1 par Paid-in capital in excess of par-comm.stock Retained earnings $1,041,600 $993,475 The following additional information was taken from the records: a. Net income,$220,500 cash b. Depreciation reported on the income statement $72,975 c. Equipment was purchased at a cost of $142,450, and fully depreciated equipment Costing $39,200 was discarded with no salvage realized The mortgage not payable was not due until 2018, but the terms permitted earlier payment d. without penalty. e. 7,000 shares of common stock were issued at $35 for cash. f Cash dividends declared and paid $134,400. Instructions-Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities