December 31. 2020 2019 Difference 2020 - 2019 Assets Cash Accounts receivable (net) Inventory Long-term investments Plant, Property, and Equipment Accumulated depreciation Patent Total assets 564,000 264,000 1,200,000 1,224,000 1,536,000 1,440,000 540,000 732,000 4,800,000 2,640,000 (1,128,000) (1,068,000) 192,000 222,000 7.704,000 5.454.000 300,000 (24,000) 96,000 (192,000) 2,160,000 (60,000) (30,000) 0 120,000 (102,000) 660,000 360,000 240,000 972,000 Liabilities and Stockholders' Equity Accounts payable 1,440,000 1,320,000 Wages Payable 444,000 546,000 Long-term notes payable (nontrade) 660,000 Common stock, $10 par 2,160,000 1,800,000 Additional paid-in capital 840,000 600,000 Retained earnings 2,160,000 1,188,000 Total liabilities and stockholders' equity 7.704.000 5.454.000 Information relating to 2020 activities: Net income for 2020 was: $ 1,560,000 Cash dividends were declared and paid in 2020. Equipment was sold in 2020 resulting in a gain of $480,000 The equipment originally cost $ 1,200,000 and has a book value of $ 1,032,000 A long-term investment was sold for $ 180,000 cash in 2020 There were no other transactions affecting long-term investments in 2020. No patents were purchased or sold this year. The company acquired land worth $ 600,000 (included in PP&E) in exchange for common stock with a value of $ 600,000 Required. Prepare the Statement of Cash Flows in good form using the INDIRECT method. Clearly show and label your work