Comparative Balance Shorts December 31 ry he NOSKER COMPANY For the Year Ended December 31, 2020 Additional data: Dividends declared and paid were $29,400 2. During the year, equipment was sold for $3,300 cash. This equipment cost $17,350 originally and had a book value of $8,300 at the time of sale. All depreciation expense, $14,950, is in the operating expenses. All sales and purchases are on account Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either - signe.9. - 15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cashles NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $35,850 $20,350 Accounts receivable 32,200 18,950 Inventory 26,000 20,100 Equipment 59,700 77,050 Accumulated depreciation equipment (29,000) (23,100) Total $124,750 $113,350 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,650 $ 16,250 7,300 8,250 26,400 33,250 18,350 14,900 44,050 40,700 $124,750 $113,350 NOSKER COMPANY Income Statement For the Year Ended December 31, 3030 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net Income $242,750 175,850 66.900 23.500 43,300 3.500 39,800 7,050 $32,750 Additional data: 1. Dividends declared and paid were $29,400. 2. During the year, equipment was sold for $3,300 cash. This equipment cost $17,350 originally and had a book value of $3,300 at the time of sale. 3. All depreciation expense, $14,950, is in the operating expenses. 4. All sales and purchases are on account Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e... - 15,000 or in parenthesis e... (15,000).) NOSKER COMPANY Statement of Cash Flows For the Year Ended Cash Flows from Op Net Income Adjustments to reconcile net income to Net Cash Provided Depreciation Expert Increase in Account