Oakley Company Comparative Balance Sheets December 31 Assets 2020 Cash $81,800 Accounts receivable 92,400 Inventory 126,800 Investments 85,700 Equipment 258,000 Accumulated depreciation-equipment (49,900) $594,800 2019 $47,700 57,700 101,100 86,000 208,000 (40,000 $460,500 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings $57,000 12,000 101,000 245.000 179,800 $594,800 $49.000 18,700 71,000 201,000 120,800 $460,500 Oakley Company Income Statement For the Year Ended December 31, 2020 Sales revenue Gain on disposal of plant assets $301,800 8,700 310,500 Less: Cost of goods sold Operating expenses (excluding depreciation expense) Depreciation expense Income tax expense Interest expense Net income $100,900 13,700 50,100 7,800 2.700 175,200 $135,300 Additional information: 1. 2 3. Equipment costing $97,000 was purchased for cash during the year. Investments were sold at cost. Equipment costing $47.000 was sold for $15,500, resulting in gain of $8,700. A cash dividend of $76,300 was declared and paid during the year. 4 Prepare a worksheet for the statement of cash flows using the Indirect method. Enter the reconciling items directly in the worksheet columns. (Show details of retained earnings and accumulated depreciation, do not net)