Coco Ventures Ltd. ("Coco") was established by two Canadian entrepreneurs. The company imports coconuts and products made from coconuts from Samoa. Required: Using the information below prepare the statement of cash flows for 2020 using the indirect method. Use the Excel template that was emailed to you just prior to the exam and upload the completed template using the upload box below prior to submitting your answer. COCO VENTURES LTD. Statement of Financial Position As at December 31 2020 2019 Assets Current Assets: Cash $33,000 $12,000 Accounts receivable 113,000 291,000 Inventories 242,000 150,000 Total Current Assets 388,000 453,000 Equipment 570,000 400,000 Accumulated Depreciation, Equipment (100,000) (60,000) $858,000 $793,000 Liabilities and Shareholders' Equity Current Liabilities: Accounts payable $90,000 $60,000 Dividends payable 10,000 20,000 Total Current Liabilities 100,000 80,000 Long term loan payable 268,000 185,000 Common shares 130,000 130,000 Retained earnings 360,000 398.000 $858,000 $793,000 COCO VENTURES LTD. Statement of Income For the Year Ended December 31, 2020 Sales revenue $1,680,000 Cost of goods sold 860,000 Gross margin 820,000 Expenses Wage expense $280,000 Utilities expense 89,000 Operating expenses 135,000 Depreciation expense 65,000 Income tax expense 21,000 590,000 Income from operations 230,000 Loss on sale of equipment 20,000 Net Income after taxes $210,000 Additional information: 1. During the year, equipment that had originally cost $65,000 was sold for $20,000. 2. During the year dividends of $248,000 were declared