Holy Cow, Inc.'s trial balances at December 31, 2018, and December 31, 2019, after temporary accounts were closed) are shown below. All accounts have normal balances. Dec 31, 2018 Dec 31, 2019 Cash S22,000 $35,000 Accounts receivable 43,000 48,000 Inventory 89,000 85.000 Prepaid expenses 4,000 6,000 Equipment 385,000 416,500 Accumulated depreciation 175,000 205,000 Accounts payable $1,000 42,000 Salaries payable 6,500 4,500 Dividends payable 0 2,000 Sales taxes payable 5,500 6,000 Long-term debt 250,000 250,000 Capital stock 25,000 25,000 Retained earnings 30,000 56,000 You have the following additional information: Net income was $28,000 for the year, No equipment was sold. Cash was used for equipment purchases There were no new borrowings. Holy Cow used the indirect method to present cash flows The total reported for net cash from operating activities was $44,500 4 $46,500 $41,500 $69,500 MacBook Pro A $ 4 % 5 & 7 3 6 8 9 0 E R T Y U 0 D F G H J K L