Indigo Inc., a greeting card company, had the following statements prepared as of December 31, 2020. INDIGO INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 Cash $6,100 Accounts receivable 61,600 Short-term debt investments (available-for-sale) 34,900 Inventory 39.900 Prepaid rent 5,000 Equipment 154,100 Accumulated depreciation-equipment (35,000) Copyrights 45,500 Total assets $312,100 12/31/19 $7,000 51,500 18,100 60,400 4,100 130,300 (24,900) 50,500 $297,000 Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-term loans payable Common stock. $10 par Contributed capital, common stock Retained earnings Total liabilities & stockholders' equity $45,800 4,000 8,100 7.900 60,500 100,000 30,000 55,800 $312,100 $39.900 6,000 4,000 10,000 69,300 100,000 30,000 37,800 $297.000 INDIGO INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $333,000 Cost of goods sold 174,000 Gross profit 159,000 Operating expenses 119.500 Operating income 39,500 Interest expense $11,500 Gain on sale of equipment 2,000 9.500 Income before tax 30,000 Income tax expense 6,000 Net income $24,000 Additional information: 1. 2. 3. Dividends in the amount of $6,000 were declared and paid during 2020, Depreciation expense and amortization expense are included in operating expenses. No unrealized gains or losses have occurred on the investments during the year. Equipment that had a cost of $20,100 and was 70% depreciated was sold during 2020. 4. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis es. (15,000).) INDIGO INC. Statement of Cash Flows Adjustments to reconcile net income to $