Current Attempt in Progress Buffalo Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information Cash Accounts receivable Inventory Equity Investments Buildings Equipment Copyrights Totals December 31 2020 2019 $38.900 $12.900 12.100 9.900 11,900 10,000 -0- 3,000 -0- 30,000 40,400 20,100 5,000 5,300 $108,300 $91.200 Allowance for doubtful accounts Accumulated depreciation-equipment Accumulated depreciation-buildings Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2.000 -0- 5,000 -0- 2.900 36,000 38,000 21.400 $108,300 $4,500 4,500 6,000 4,000 5.000 4,000 25,000 33,000 5.200 $91.200 Additional data related to 2020 are as follows. 1 Equipment that had cost $11.100 and was 30% depreciated at time of disposal was sold for $2.600 2 $5,000 of the long-term note payable was paid by issuing common stock 3. Cash dividends paid were 55.000 4. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $33,000 (net of $3,900 taxes). 5. Equity investments (ownership is less than 20% of total shares) were sold at $1.500 above their cost. No unrealized gains or losses were recorded in 2020 6. Cash and a long-term note for $16,000 were given for the acquisition of equipment 7. Interest of $2.000 and income taxes of $5,000 were paid in cash. (a) Use the indirect method to analyze the above information and prepare a statement of cash flows for Buffalo (Show amounts that decrease cash flow with either a signe..-15,000 or in parenthesis es (15,0001.) BUFFALO CORPORATION Statement of Cash Flows djustments to reconcile net income to . plendosures of cash flow information