out of Take me to the text Behemoth Manufacturing makes and sells integrated circuit boards. At the end of 2020, the income statement and comparative balance sheet were prepared as shown below. Behemoth Manufacturing Balance Sheet As at February 28 Assets Current Assets 2020 2019 Cash $293,550 $126,900 Accounts Receivable $240,600 $261,100 Merchandise Inventory $505,500 $466,300 Prepaid Expenses Total Current Assets $24,400 $24,400 $1,064,050 $878,700 Long-Term Assets Land $18,200 Equipment $340,300 $340,300 Less: Accumulated Depreciation $-108,400 $90,100 Total Long-Term Assets $231,900 $268,400 $1,295,950 51,147,100 Total Assets Liabilities Current Liabilities Accounts Payable $306,800 $329,200 Notes Payable, Current Portion $36,100 $22,700 Current Liabilities Accounts Payable $306,800 $329,200 Notes Payable, Current Portion $36,100 $22,700 Total Current Liabilities $342,900 $351,900 Notes Payable, Long-Term Portion $211,800 $193,500 Total Liabilities $554,700 $545,400 Shareholders' Equity Common Shares $291,000 $250,000 Retained Earnings $450,250 $351,700 Total Shareholders' Equity Total Liabilities and Equity $741,250 $601,700 $1,295,950 $1,147,100| Additional Information: During 2020, land was sold for a loss of $5,900. There was no purchase of equipment throughout the year. The company did not pay off any amount of the notes payable. Behemoth Manufacturing Income Statement For the Year Ended February 28, 2020 Sales Cost of Goods Sold Gross Profit $2,480,000 $1,488,000 $992,000 Operating Expenses Depreciation Expense $18,300 Other Operating Expenses $746,800 Total Operating Expenses $765,100 Income from Operations $226,900 Other Income and Expenses Loss on Sale of Land $5,900 Income before Income Tax $221,000 Income Tax $77,350 Net Income $143,650 Create the cash flow statement using the indirect method Do not enter dollar signs.or.commas in the input boxes, Use the negative sign for a decrease in cash ded February 28, 2020 228345 x Cash Flow from Operating Activities Net Income Adjustments to Reconcile Net Income to Cash Depreciation Loss on Sale of Land Change in Operating Assets and Liabilities Decrease in Accounts Receivable Increase in Merchandise Inventory Decrease in Accounts Payable 8400 3700 21100 -53100 -14200 Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of Land Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds from Notes Payable Payment of Cash Dividend Issue of Common Shares x x x x x 133145 18400 x 18400 x 32800 -54100 45000 Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year Cash at the End of the Year. x x x 23700 x 175245 x 125300 x 300545 x