Financial statement data for Metro Moving Company for 2020 follow. METRO MOVING COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Dec. 31, 2019 Assets Cash $68,600 $49,100 Accounts receivable 95,300 59,700 Prepaid insurance 29,700 19,700 Total current assets 193,600 128,500 Property, equipment, and vehicles 400,000 345,000 Accumulated depreciation (110,400 (105,900 Total non-current assets 289,600 239,100 Total assets $483,200 $367,600 Liabilities and shareholders' equity Accounts payable $21,500 $18,600 Wages payable 3,000 4,000 Total current liabilities 24,500 22,600 Bank loan 50,000 60,000 Total liabilities 74,500 82,600 Common shares 200,000 200,000 Retained earnings 208,700 85,000 Total shareholders' equity 408,700 285,000 Total liabilities and shareholders' equity $483,200 $367,600METRO MOVING COMPANY Statement of Income For the year ended December 31, 2020 Moving revenue $451,300 Gain on sale of vehicles 4,000 455,300 Expenses Vehicle operating expenses $103,700 Wages expense 133,200 Depreciation expense 59,500 Interest expense 5,400 Total expenses 301,800 Net income $153,500 Additional information: 1. Vehicles that cost $65,000 and had a net carrying amount of $10,000 were sold for $14,000. 2. A cash payment was made to reduce the bank loan. 3. 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 indired method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Metro Moving Company Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 153,500 Depreciation Expense 59,500 Gain on Sale of Vehicles -4,000 Increase in Accounts Receivable 35,600 Increase in Accounts Payable 2,900 Increase in Prepaid Insurance 10,000 Net Cash Provided by Operating Activities to Net Cash Provided by Investing Activities Proceeds from the sale of Vehicles 14,000 Purchase of Property, Plant & Equipment v -120,000 Net Cash Used for Investing Activities 106,000 Cash Flows from Financing Activities Dividend Paid