Margol Corporation Comparative Balance Sheets June 30, 20x5 and 20x4 20x5. 20x4 Assets Cash. $139,800. $25,000 Accounts receivable(net) 42,000. 52,000 Inventory. 86,800. 96,800 Prepaid expenses. 6,400. 5,200 Furniture. 110,000. 120,000 Acc dep,furniture. (18,000) (10,000) Total assets $367,000.$289,000 Liabilities and Stockholders Equity Accounts payable $ 26,000. $28,000 Income taxes payable 2,400. 3,600 Notes payable. 74,000. 70,000 (long-term) Common Stock, 230,000. 180,000 $10 par value Retained earnings 34,600 7,400 Total Liabilities and. $367,000$289,000 stockholders equity

The following information is also available. The company issued a $44,000 note payable for purchase of furniture that cost $54,000 with accumulated depreciation of $30,600 at carrying val2, recorded depreciation on the furniture during the year, $38,600;repaid a note in the amount of $40,000;issued $50,000 of common stock at par value; and declared and paid dividends of $8,600. Prepare Margol Corporation's statement of cash flows for the year 205 using the indirect method.