Newman Corporation's comparative balance sheets are presented below. Newman Corporation Comparative Balance Sheet December 31 Assets Cash 2020 $15,200 2019 $17,700 Accounts receivable 25,200 22.300 Investments (long-term) 20,000 16,000 Equipment 60,000 70,000 Accumulated depreciation (14,000) (10,000) Total Assets $106,400 $116,000 Liabilities & Stockholder Equity Accounts payable $14,600 $11.100 Bonds payable 10,000 30,000 Common stock ($1 par) 50,000 45,000 Retained earnings 31.800 29.900 Total Liabilities & Stockholder Equity $106,400 $116,000 Additional information: 1. Net income was $18,300. Dividends declared and paid were $16,400. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. INSTRUCTIONS: Prepare a statement of cash flows for 2020 using the indirect method. Prepare on proper accounting paper. UPLOAD YOUR ANSWER AS A PDF FILE. Attach File Browse Local Files