Financial statement data for Metro Moving Company for 2020 follow. Dec. 31, 2019 METRO MOVING COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Assets Cash $68,600 Accounts receivable 96,500 Prepaid insurance 28,500 Total current assets 193,600 Property, equipment, and vehicles 400,000 Accumulated depreciation (110,400 Total non-current assets 289.600 Total assets $483.200 Liabilities and shareholders' equity Accounts payable $21.500 Wages payable 3,000 Total current liabilities 24,500 Bank loan 50.000 Total liabilities 74.500 Common shares 200.000 Retained earnings 208,700 Total shareholders' equity 408.700 Total liabilities and shareholders' equity $483.200 $49.100 60.900 18,500 128,500 345,000 (105.900 239.100 $367,600 $18,600 4,000 22.600 60.000 82,600 200.000 85,000 285.000 $367.600 METRO MOVING COMPANY Statement of Income For the year ended December 31, 2020 Moving revenue Gain on sale of vehicles $451,500 4,000 455,500 Expenses Vehicle operating expenses Wages expense Depreciation expense Interest expense Total expenses Net income $ 103,900 132.200 59,500 5.400 301.000 $154,500 Additional information: 1 2. 3. Vehicles that cost $65,000 and had a net carrying amount of $10,000 were sold for $14,000. A cash payment was made to reduce the bank loan. Dividends were declared and paid during the year. Prepare a statement of cash flows for Metro Moving Company for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) Metro Moving Company Statement of Cash Flows For the Year Ended December 31, 2020 $ $ $ Supplementary disclosures Cash paid for interest $