Condensed financial data of Pharoah Company follow Pharoah Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Investments Equipment 2019 2018 $109,700 $47,900 92,200 32,700 113,000 101,200 29,900 25,900 139,800 113,500 265,400 242,200 Accumulated depreciation-equipment (47,200) (53,000) $702,800 $510,400 Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $111,800 $67,300 16,100 17,100 118,700 149,600 219,400 174,500 236,800 101,900 $702,800 $510,400 Total Pharoah Company Income Statement For the Year Ended December 31, 2019 Sales revenue Less $392,800 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $134,900 12,400 31,100 26,900 4,100 7,500 216,900 $175,900 Net income Additional information: 1. New equipment costing $80,500 was purchased for cash during the year. 2. Old equipment having an original cost of $57,300 was sold for $12,900 cash. 3. Bonds matured and were paid off at face value for cash 4. A cash dividend of $41,000 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts tha (15,000).) Pharoah Company Statement of Cash Flows