MUIN COMPANY Comparative Statement of Financial Position Dec. 31, 2020 Dec. 31, 2019 Assets Cash $61,000 $42,000 Accounts receivable 70,000 58,000 Inventories 130,000 97,000 Property, plant, and equipment 300,000 230,000 Accumulated depreciation (79,500) (70,000) Land 90,000 99,000 $571,500 $456,000 Liabilities and shareholders' equity Accounts payable $52,000 $47,000 Income taxes payable 14,000 17,000 Bonds payable 118,200 72,000 Common shares 230,000 190,000 Retained earnings 157,300 130,000 $571,500 $456,000 MUIN COMPANY Statement of Income For the year ended December 31, 2020 Sales revenue $440,000 Gain on sale of equipment 4,600 $444,600 Less: Cost of goods sold Operating expenses (excluding depreciation) Depreciation expense Income taxes 210,000 70,000 44,100 40,000 364,100 $80,500 Net income Additional information: 1. 2. Some of the land was sold at book value (or carrying value). As a result, there was no gain or loss on this transaction. Equipment costing $50,000 was sold for $20,000, which was $4,600 more than its book value at the time of disposal. Prepare the company's statement of cash flows for 2020 using the indirect method. Assume Muin follows IFRS and has chosen to classify dividends paid as financing activities. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) MUIN COMPANY STATEMENT OF CASH FLOWS - INDIRECT METHOD FOR THE YEAR ENDED DECEMBER 31, 2020 $ $ $