Consider the following income statement for the Basset Inc. for the year ended December 31, 2020 and the balance sheets for December 31, 2020 and 2019. Using these statements, create the cash flow identity.

Income Statement Basset Inc. For the year ended December 31, 2020
Sales Revenue	$600,000
Cost of goods sold	460,000
Gross profit	140,000
General and administration expense	30,000
Depreciation expense	30,000
Earnings before interest and taxes	80,000
Interest expense	10,000
Earnings before taxes	70,000
Taxes	27,100
Net income	$ 42,900

Balance sheets Basset Inc.
	December 31,
Assets	2020	1019
Cash	$15,000	$16,000
Marketable securities	7,200	8,000
Accounts receivable	34,100	42,200
Inventories	82,000	50,000
Total current assets	138,300	116,200
Land and buildings	150,000	150,000
Machinery and equipment	200,000	190,000
Furniture and fixtures	54,000	50,000
Other	11,000	10,000
Total gross fixed assets	415,000	400,000
Accumulated depreciation	145,000	115,000
Net fixed assets	270,000	285,000
Total assets	$408,300	$401,200
Liabilities and stockholders equity
Accounts payable	$57,000	$49,000
Current portion of long-term debt	13,000	16,000
Accruals	5,000	6,000
Total current liabilities	75,000	71,000
Long-term debt	150,000	160,000
Common stock	110,200	120,000
Retained earnings	73,100	50,200
Total liabilities and stockholders equity	$408,300	$401,200