Comparative financial data of ABC Inc. appears below. ABC Inc. Statement of Financial Position As at December 31st Assets 2020 2019 Cash $ 39,500 $ 18,850 Accounts receivable 38,050 16,250 Merchandise inventory 48,675 51,475 Prepaid operating expenses 1,500 9,350 Long-term investments 52,500 47,250 Capital (fixed) assets (net) 108,450 100,250 $ 288,675 $ 243,425 Liabilities and Shareholders' Equity Accounts payable $ 38,650 $ 32,925 Bonds payable 40,125 62,350 Common shares 100,000 85,000 Retained earnings 109,900 63,150 $ 288,675 $ 243,425 ABC Inc. Statement of Income For the year ended December 31, 2020 Sales revenue $ 184,390 Expenses: Cost of goods sold $ 73,130 Operating expenses excluding depreciation 17,705 Depreciation expense 31,550 Income tax expense 9,640 Interest expense 2,865 Loss on sale of capital assets 2,750 137,640 Net income $ 46,750 Additional information: a. During 2020, capital assets with an historical cost of $36,900 and accumulated depreciation of $32,050 were sold for cash. b. Bonds matured and were paid off at face value for cash. c. Accounts payable represents amounts owing to suppliers of merchandise inventory only. Required (show all of your calculations): a) Present in good form the 2020 statement of cash flows. Use the indirect method. b) Present operating section of statement of cash flows using the direct method.