Pharcoh Corporation has contracted with you to prepare a statement af cash flows. The controller has provided the follawing information. Additional dota related to 2020 are as follows 1. Equipment that had cost $11,100 and was 30% depreciated at time of disposal was sold for $2,500. 2. $5,000 of the long-term nate paysable was paid by issuing common stock. 3. Cash dividends paid were $5,000. 4. On danuary 1, 2020, the building was completely destroyed by a flood. Insurnnce proceeds on the building were $33,300 (net of $3,900 tuxes). 5. Equity investments (ownership is less than 20% of total shares) were sold at $1,500 above their cost. No unrealized gains or lasses were recorded in 2020. 6. Cash and a long-term note for $16,000 were given for the acquisition of equipment. 7. Interest of $2,000 and income taxes of $5,000 were paid in cash. (a) Use the indirect method to analyze the above information and prepare a statement of cash flows for Pharoah. (Show amounts that decrease cash flow with either a - sign e.. - 15,000 or in parenthesis e. (15,000).J set Pharcoh Corporation has contracted with you to prepare a statement af cash flows. The controller has provided the follawing information. Additional dota related to 2020 are as follows 1. Equipment that had cost $11,100 and was 30% depreciated at time of disposal was sold for $2,500. 2. $5,000 of the long-term nate paysable was paid by issuing common stock. 3. Cash dividends paid were $5,000. 4. On danuary 1, 2020, the building was completely destroyed by a flood. Insurnnce proceeds on the building were $33,300 (net of $3,900 tuxes). 5. Equity investments (ownership is less than 20% of total shares) were sold at $1,500 above their cost. No unrealized gains or lasses were recorded in 2020. 6. Cash and a long-term note for $16,000 were given for the acquisition of equipment. 7. Interest of $2,000 and income taxes of $5,000 were paid in cash. (a) Use the indirect method to analyze the above information and prepare a statement of cash flows for Pharoah. (Show amounts that decrease cash flow with either a - sign e.. - 15,000 or in parenthesis e. (15,000).J set