LAG network inc. balance sheet and income statement are as follows: LAG network inc. income statement for year ended dec. 31 2020 sales $928600 cost of goods sold $556200 gross profit 324400 operating expenses depreciation expenses 25200 other expenses 231800 total operating expenses 257000 profit from operations 115400 income taxes 18600 profit $ 96800 LAG network inc. comperative balance sheet informed dec 31 2020 2019 assets cash 81190 54400 acc. receviable 42400 37600 merchandise inventory 285710 247800 equipment 154400 138400 acc. depreciation 71800 46600 total assets 491900 431600 liability and equity acc. payable 31200 43800 income tax pay. 11600 10200 common shares 363600 337500 retained earnings 86100 40100 total liability and equity 491900 431600 additional information regarding LAG network inc 's activities during 2020 a) equipment is purchased for $ 16000 cash b) 10200 common share are issued for cash ag $2.50 per share c) declared and paid $50800 of cash dividends during the year required prepare a statement of cash flows for 2020 that reports the cash inflows and outflows from operating activities acc. to the ibdirect mehod. ( list any deduction in cash outflows aa negative amounts)