Condensed financial data of Tamarisk SA follow. Tamarisk SA Comparative Statements of Financial Position December 31 Assets 2020 2019 Equipment 254,400 232.800 Accumulated depreciation equipment (45,120 (49.920 Long-term investments 134,400 109.440 Prepaid expenses 28.128 24.960 Inventory 108.000 98.736 Accounts receivable 89.088 31,680 Cash 96,336 46.464 Total 665.232 494.160 Equity and Liabilities Share capital-ordinary 211,200 168,000 Retained earnings 225.072 101,232 Bonds payable 105,600 144,000 Accounts payable 107.520 64,608 Accrued expenses payable 15,840 16.320 Total 665.232 494,160 Tamarisk SA Income Statement For the Year Ended December 31, 2020 Sales revenue 377,072 Gain on disposal of plant assets 4,800 381,872 Less: Cost of goods sold 130,040 Operating expenses, excluding depreciation 11,912 Depreciation expense 43,200 Income tax expense 26,192 Interest expense 4,544 215,888 Net income 165,984 Additional information: 1. New equipment costing 76,800 was purchased for cash during the year. 2. Old equipment having an original cost of 55,200 and accumulated depreciation of 48,000 was sold for 12,000 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of 42,144 was declared and paid during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign eg. -15,000 or in parenthesis es. (15,000)) TAMARISK SA Statement of Cash Flows Adjustments to reconcile net income to C A A V A