Condensed financial data of Oakley Company appear below. Oakley Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $83,600 $47,700 Accounts receivable 91,400 56,700 Inventory 127,200 103,400 Investments 84,600 88,000 Equipment 250,000 201,000 Accumulated depreciation-equipment (48,800) (39,000) $588,000 $457,800 Liabilities and Stockholders' Equity Accounts payable $58,500 $47,900 Accrued expenses payable 12,400 18,600 Bonds payable 100,000 68,000 Common stock 247.000 197,000 Retained earnings 170,100 126,300 $588,000 $457,800 Oakley Company Income Statement For the Year Ended December 31, 2020 Sales revenue $292,200 Gain on disposal of plant assets 9,400 301,600 Less: Cost of goods sold $98,000 Operating expenses (excluding depreciation expense) 13,300 Depreciation expense 49,900 Income tax expense 7,400 Interest expense 3,000 171,600 Net income $130,000 Additional information: 1. 2. Equipment costing $103,000 was purchased for cash during the year. Investments were sold at cost. Equipment costing $54,000 was sold for $23,300, resulting in gain of $9,400. A cash dividend of $86,200 was declared and paid during the year. 3. 4. Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns. (Show details of retained earnings and accumulated depreciation, do not net)