Cheyenne lnc, a greeting card company, had the following statements prepared as of December 31,2020 . Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable Commonstock, \$10 par Contributed capital, common stock Retained eamings Total liabilities \& stockholders' equity CHEYENNE INC, INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 \begin{tabular}{|c|c|c|} \hline Sales revenue & & $333,125 \\ \hline Cost of goods sold & & 173,600 \\ \hline Gross profit & & 159.525 \\ \hline Operating expenses & & 118,900 \\ \hline Operating income & & 40,625 \\ \hline Interest expense & $11.500 & \\ \hline Gain on sale of equipment & 2.000 & 9,500 \\ \hline Income before ta & & 31.125 \\ \hline Income tax expense & & 6.225 \\ \hline Net in & & $24,900 \\ \hline \end{tabular} Additional information: 1. Dividends in the amount of $6,100 were declared and paid during 2020 . 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $19,800 and was 70% depreciated was sold during 2020 . with elther a-signeg 15,000 or in parenthesis eg. (15,000) ) Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment Sale of Equipment Purchase of Investments Net Cash Used by Inwesting Activities Cash Flows from Financing Activities Principal Payment on Lone-term Loan Principal Payment on Short term Loan Cash Flows from Financing Activities Principal Payment on Long-term Loan Principal Payment on Short-term Loan Dividend Payments Net Cash Used by Finsncing Activities Net Decrease in Cash Cash at Beginning of Period Cashat End of Period