December 31 2019 Corporation is presented below Diablo Enterprises Go-Kart Corporation Balance Sheet and Income Statement Data December 31, 2020 Current Assets Cash $193,000 Accounts Receivable 218,000 Inventory 371.000 Total Current Assets 782000 Property, Plant, and Equipment 1,241,000 Less: Accumulated Depreciation (476.000) 765.000 Total Assets $1.547.000 $115,000 316,000 334.000 765,000 1,122,000 (442.000) 680,000 $1.445.000 Current Liabilities Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $187,000 51,000 85.000 323,000 $102,000 68,000 76,500 246,500 Bonds Payable Total Liabilities 340.000 663.000 391,000 637500 Stockholders' Equity Common Stock 510,000 467,500 Retained Earnings 374.000 340.000 Total Stockholders' Equity 884.000 807.500 Total Liabilities & Stockholders' Equity $1.547.000 $1.445.000 Sales Revenue $1,615,000 $1,513,000 Less Cost of Goods Sold (751.000) (731.000) Gross Profit 864,000 782,000 Expenses: Depreciation Expense 153,000 116,000 Salaries and Wages Expense 401,000 377,000 Interest Expense 24,000 34,000 Loss on Sale of Equipment 12.000 0 Income Before Taxes 274,000 255,000 Less Income Tax Expense 110,000 102.000 Net Income $164.000 $153.000 Additional Information: During the year, the company sold equipment with an original cost of $147,000 and accumulated depreciation of $119,000. They purchased new equipment for $266,000. Required: Prepare a statement of cash flows for the year ending December 31, 2020