Instant Brake inc's comparative balance sheet information at December 31,2020 and 2019, and lis income statement for the year ended December 31, 2020, are as follows: During 2020, the following transactions occurred: 1. Purchased equipment for $20,600 cash 2. Sold the investment on January 1, 2020, for $42,800, resulting in investment income of $18,520 3. Sold equipment for $7,420 cash that had originally cost $39,120 and had $20,120 of accumulated depreciation. 4. Issued $20.000 of bonds poyable at face value. Other information a. All sales are credit sales. b. All credits to accounts recelvable in the perlod are recelpts from customers c. All purchases of merchandise are on credit. d. All debits to accounts payable in the period resuit from payments for merchandise e. Other operaung expenses are cash expenses. t. income taxes are cash expenses. Requlred: Prepare a statement of cash flows for 2020 using the direct method to report cash inflows and outfiows from operating activities. (L/st any deductlon in cash ond cash outflows as negotlve amounts.)