Mamma Ltd. Comparative Statement of Financial Position As at December 31 2020 2019 Cash $20,500 $12,500 Accounts receivable 34,000 25,500 Inventories 20,000 30,000 Prepaid insurance 2,500 2,000 Equipment 102,000 90,000 Accumulated depreciationequipment (22,500). (12,500) Total assets $156,500 $147,500 Accounts payable $23,000 $20,000 Wages payable 4,000 2,000 Interest payable 2,000 3,000 Income taxes payable 4,000 5,000 Long-term debt 30,000 34,500 Bonds payable 0 350 Common shares 65,000 64,650 Retained earnings 28,500 18,000 Total liabilities and shareholders' equity$156,500 $147,500 Additional information: 1. Net income for the fiscal year was $13,500. 2. Equipment that costing $10,000 was sold for a gain of $1,000 during 2020. The equipment's accumulated depreciation was $7,000. 3. New debt amounting to 1,000 was incurred during the year. 4. Conversion of bonds payable to common shares for $350. Required: A. Prepare a statement of cash flows in good form using the indirect method. B. Discuss briefly your results