Oriole Corporation's comparative balance sheets are presented below. ORIOLE CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $20,900 $27,450 Accounts receivable 26,650 23,600 Investments 28,250 17,300 Equipment 57,700 71,300 Accumulated depreciation (14,950) (11,300) Total $118,550 $128,350 Accounts payable $15,550 $12,400 Bonds payable 6,450 33,450 Common stock 51,950 46,300 Retained earnings 44,600 36,200 Total $118,550 $128,350 Additional information: 1. Net income was $19,000. Dividends declared and paid were $10,600. 2. Equipment which cost $13,600 and had accumulated depreciation of $3,300 was sold for $5,300. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) ORIOLE CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ 19,000 Adjustments to reconcile net income to Depreciation Expense $ 3,650 Loss on Sale of Equipment 13,600 Decrease in Accounts Receivable 3,050 Decrease in Accounts Payable 3,150 23,450 Cash Flows from Operating Activities 4,450 Cash Flows from Investing Activities Payment of Dividends Issuance of Common Stock Net Cash Used by Financing Activities Cash at Beginning of Period Cash at End of Period $ e Textbook and Media