Hi-Tech Fuel Injection Company, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash $ 70,000 $ 33,000 Accounts receivable 89,000 65,400 Inventories 123,000 127,600 Prepaid expenses 16,000 19,000 Investments 80,000 65,000 Plant assets 330,000 250,000 Accumulated depreciation (68,000) (60,000) Total $640,000 $500,000 Liabilities and Stockholders' Equity Accounts payable $ 85,000 $ 77,000 Accrued expenses payable 12,000 16,000 Bonds payable 100,000 160,000 Common stock 275,000 170,000 Retained earnings 168,000 77,000 Total $640,000 $500,000 Hi-Tech Fuel Injection Company, Inc. Income Statement For the Year Ended December 31, 2019 Sales $498,000 Less: Cost of goods sold $280,000 Operating expenses (excluding depreciation) 70,000 Depreciation expense 8,000 Interest expense 13,000 Loss on sale of investments. 9,000 Income tax expense 15,000 395,000 Net income $103,000 Additional information: 1. No plant assets were sold in 2019. 2. Investments costing $30,000 were sold and additional investments were purchased for $45,000. 3. Bonds were redeemed at their face value. 4. Dividends were also declared and paid. Required: Prepare a statement of cash flows for the year ended December 31, 2019 using the indirect method.