Mamma Ltd. had the following comparative statement of financial position: 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 depreciation equipment (22.500) (12,5002 Total assets SI56,500 $147.500 Accounts payable $23.000 $20.000 4.000 2.000 2,000 3.000 Wages payable $nterest payable Income taxes payable Long-term debt 4,000 5.000 30,000 34,500 Bonds payable 0 350 Common shares 65.000 64,650 Retnined earings 28.500 18.000 Total abilities and shareholders equity 136,500 $147.500 Accumulated depreciation-equipment (22.500) (12.500) Total assets SI56.500 $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 18.000 Retained earnings 28,500 Total liabilities and shareholders' equity$156,500 $147,500 Additional information: 1. Net income for the fiscal year was S13.500 2. Equipment that costing $10.000 was sold fora 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