equired: Prepare the Statement of Cash Flows for RichCorp using the INDIRECT method by completing the worksheet below. Prepare the Statement of Cash Flows for Rich Corp using the DIRECT method by completing the worksheet below. le sure to indicate in which section of the statement each should be shown Rich Corp Income Statement EYE 12/31/20 Fevenues 2,670,000 Cost of Goods Sold (1,395,000) Operating Expenses (663,000) nterest Expense (36,000) oss on sale of equipment 16.000) 2.100,000) ncome before income taxes $70,000 ncome tax expense (195.000) Het Income 375.000 Additional Information relating to 2020 activities: Cash dividends of $165,000 were declared and paid Equipment costing S123,000 and having a carrying value of $108,000, was sold for $102,000 cash Equipment with a cost of $498,000 was purchased for cash Operating expenses include depreciation expense of $99,000 and amortization of prepaid expenses of S6,000 Land was sold at its book value for cash Interest expense of $36,000 was paid in cash Common stock was issued for cash Inventory was purchased on credit Assume operating expenses are paid in cash INDIRECT METHOD Debits Credits Cash .ccounts Receivable mwentory "repaid Insurance and Buildings Equipment 12/31/19 111,000 78,000 0 18,000 210,000 600,000 204.000 1,221,000 12/31/20 162,000 204,000 162,000 12,000 135,000 600,000 579.000 1,854,000 K Accumulated Depreciation, Accumulated Depreciation, accounts Payable Honds Payable Common Stock (51 par) Betained Earnings 33,000 30,000 120,000 450,000 180,000 408,000 1,221,000 63,000 84,000 99,000 330.000 660,000 618.000 1.854.000 Cash Flow Section INDIRECT method