Condensed financial data of Cheng Inc follow. CHENG INC. Comparative Balance Sheets December 31 Assets 2020 2019 Cash $104.300 $48,600 92.100 33,700 Accounts receivable Inventory Prepaid expenses 111.500 102.000 29.500 25,200 Investments 139.500 113.100 264 100 241,000 Equipment Accumulated depreciation-equipment (46,800) (52,300) Total $694,200 $511,300 $111.700 $67,800 16.100 17,000 Liabliltles and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings 113.100 149.900 219,500 174.200 233,800 102.400 Total $694,200 $511,300 CHENG INC. Income Statement For the Year Ended December 31, 2020 Sales revenue $391.900 Less: $134,000 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense 12,700 30,300 Income tax expense 26,300 4,500 Interest expense Loss on disposal of plant assets Net income 7,500 215,300 $176,600 Additional information 1. 2. New equipment costing $79.300was purchased for cash during the year. Old equipment having an original cost of $56.200 was sold for $12.900 cash. Bonds matured and were paid off at face value for cash. A cash dividend of $45.200was declared and paid during the year. 3. 4. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signe g. 15,000 o parenthesis eg. (15,000.) CHENG INC. Statement of Cash Flows $ Adjustments to reconcile net income to > A A 4 A A A