Comparative balance sheets for international Company are presented as follows International Company Comparative Balance Sheets December 31 Assets 2020 Cash $73,000 Accounts receivable 85.000 Inventory 160,000 Land 75,000 Equipment 250,000 Accumulated depreciation equipment (66,000) Total 5597.000 Liabilities and Stockholders Equity Accounts payable $34.000 Bonds payable 150.000 Common stock ($1 par 214,000 Retained earnings 199.000 Total 5597.000 2019 $22.000 76.000 189.000 100.000 200,000 (42.000 5545.000 $47.000 200.000 164,000 134.000 $545,000 Additional information: 1 Net Income for 2020 was $135.000 1 2 3 4 5 6 7. Net income for 2020 was $135.000 Cash dividends of $70.000 were declared and paid Bonds payable amounting to $50.000 were redeemed tor cash $50,000. Common stock was issued for $50.000 cash Depreciation expense was $24.000 Sales revenue for the year was $978.000 Land was sold at cost and equipment was purchased for cash Prepare a worksheet for a statement of cash flows for 2020 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either - signes -15.000 or in parenthesis es (15,0001) International Company Worksheet Statement of Cash Flows For the Year Ended December 31, 2020 Reconciling Items Balance Sheet Accounts Balance 12/31/19 Debit Credit Debits Cash International Company Worksheet Statement of Cash Flows For the Yeded December 31, 2020 Reconciling items Balance 12/31/19 Debit Credit Balance Sheet Accounts Debits Cash Accounts receivable Inventory Land Equipment Total Credits Accumulated depreciation equipment Accounts payabile Bonds payable Commonsta International Company Worksheet Statement of Cash Flows For the Year Ended December 31, 2020 Reconciling Items Balance 12/31/19 Debit Credit Balance 12/31/20 0 1102 AM 11/20/2020 Statement of Cash Flow Effects Operating A 24000 Deprecation or front Account Recto Decor 9.000 2.000 13.000 Investing Activiti Pro 25.000 Pro 50 000 Financing Acties 50.000 Payment of 70.000 peare 50.000 Totals Search La YOU entory counts Payable 13,000 11.000 25.000 ipment 50.000 mon Stock 50.000 tends 70.000 50.000 onds 51.000 22.000 71000 Decrease inventory YOU Decrease in Accounts Payable -13,000 Investing Activities Purchase of Land 25.000 Purchase of Equipment -50,000 Financing Activities Issuance of Common Stock 50,000 Payment of Dividends -70,000 Redemption of Bonds -50,000 Totals Increase in Cash Totals