Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 46,200 70,400 89,100 $ 205,700 $ 40,700 58,300 103, 400 $ 202,400 182,600 (26,400) $361,900 167,200 (23, 100) $346,500 Assets Cash Accounts receivable Merchandise inventory Total current assets Plant and equipment: Production equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Short-term debt Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par value, 44,000 shares authorized, 33,000 and 30,800 shares issued, respectively Retained earnings: Beginning balance Net income for month Dividends Ending balance Total stockholders' equity Total liabilities and stockholders' equity $ 40,700 48,400 23,100 $112,200 36,300 $148,500 $ 45,100 48,400 26,400 $ 119,900 50,600 $170,500 $114,400 $105,600 $ 70,400 39,600 (11,000) $ 99,000 $213,400 $361,900 $ 47,300 31,900 (8,800) $ 70, 400 $176,000 $346,500 Check Prepare a statement of cash flows that explains above changes? (Amounts to be deducted should be indicated by a minus sign.) 1.66 points eBook MILLCO INC. Statement of Cash Flows For the Month Ended February 28, 2020 Cash flows from operating activities: Net income Add (deduct) items not affecting cash: Depreciation expense Decrease in merchandise inventory Decrease in accounts payable Decrease in other accrued liabilities Print References Cash flows from investing activities: Purchases of production equipment Cash flows from financing activities: Sale of common stock Payment of long term debt Payment of dividends Net increase in cash for the year