Condensed financial data of Wildhorse Co follow. Wildhorse Co. Comparative Balance Sheets December 31 Assets 2020 2019 Cash $119,000 $47,100 Accounts receivable 93,000 32,400 Inventory 113,000 102.400 Prepaid expenses 29.100 25.700 Investments 139.500 114.700 264,800 241,800 Equipment Accumulated depreciation equipment (46,500) (51,700) Total $711.900 $512,400 Liabilities and Stockholders' Equity Accounts payable $111.500 $67.600 Ad le 14 1710 $111,500 $67,600 16,400 17,100 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total 114,000 149,300 219.100 174,200 250,900 104,200 $711.900 $512,400 Wildhorse Co. Income Statement For the Year Ended December 31, 2020 Sales revenue $391,400 Less: $134.700 12,000 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense 32,300 26.800 Interest expense 4.700 Loss on disposal of plant assets 7.500 218,000 Income Statement For the Year Ended December 31, 2020 Sales revenue $391.400 Less $134,700 12.000 32,300 Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets Net Income 26,800 4,700 7.500 218.000 $173,400 Additional information: 1 2 New equipment contine $80,700 was purchased for cash during the year, Old equipment having an original cost of $57.700 was sold for $12,700 cash Bonds matured and were paid off at face value for cash, A cash dividend of $26.700 was declared and paid during the year. 3. Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with either a signes -15,000 or in parenthesis es (15.000 Wildhorse Co. Statement of Cash Flows Adjustments to reconcile net income to $ > me Achete JOININE > >