Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flows-indirect method. Additional information: 1. Net income for 2020 was $88,000. 2. Cash dividends of $34,000 were declared and paid. 3. Bonds payable amounting to $61,000 were redeemed for cash $61,000. 4. Commonstock was issued for $44,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $38,000 during 2020; land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000).) Question 1 of 4 125 Decrease in Accounts Payable Net Cash Provided by Operating Activities ^ Question 1 of 4 125 eTextbook and Media Assistance Used