Nash inc., a greeting card company, had the following statements prepared as of December 31,2020. Copyrights. Totalassets $312,90046,200=$297,10049,800 Accounts payable Income taxes payable Salaries and wages payable Short-term loans payable Long-termloans payable Commonstock, \$10 par \begin{tabular}{rr} $46,000 & $40,000 \\ 4,000 & 6,000 \\ 7,900 & 4,000 \\ 8,100 & 10,100 \\ 59,800 & 69,200 \\ 100,000 & 100,000 \\ 30,000 & 30,000 \\ 57,100 & 37,800 \\ \hline$312,900 & $297,100 \\ \hline \end{tabular} NASH INC. INCOME STATEMENT. FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $336,150 CostofgoodssoldGrossprofit174,100162,050 \begin{tabular}{lr} Operating expenses & 120,800 \\ \cline { 2 - 2 } Operating income & 41,250 \end{tabular} Interest expense $11,400 \begin{tabular}{lrrr} Gain on sale of equipment & 1,900 & 9,500 \\ \cline { 2 - 3 } Income before tax & & 31,750 \end{tabular} Income tax expense Net income $25,4006,350 Additional information: 1. Dividends in the amount of $6,100 were declared and paid during 2020. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year: 4. Equipment that had a cost of $20,200 and was 70% depreciated was sold during 2020. Prepare a statement of cash flows using the direct method. IShow amounts in the imvesting and financing sections that decrease cash flow with either a-signes, 15,000 or in porenthesises. (15,000)] eTextbook and Medi 5 Sawnetifint Attempts 0 of 1 uned sutamit Arawer