Please also show the method to calculate each entry

Jessie Company Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Assets $35,000 $12,000 53,000 Cash and cash equivalents Accounts receivable (net) Inventory Equipment Accumulated depreciation-equipment 66,600 102,000 117,000 58,000 32,000 (22,000) (12,000) $202,000 Total assets Liabilities and Equity Accounts payable $51,700 Income tax payable 4,700 Long-term notes payable 72,000 Capital stock 62,000 Retained earnings 49,200 Total liabilities and equity $239,600 The following additional information is available: $46,300 3,700 52,000 62,000 38,000 $202,000 The following additional information is available: a. Net income for the year 2018 (as reported on the statement of comprehensive income) was $51,000, and the income tax expense was $2,600. b. Dividends of $39,800 were declared and paid. c. Equipment that cost $7,000 and had a carrying amount of $1,100 was sold during the year for $2,600. Required: Based on the information provided, prepare a statement of cash flows for Jessie Company for the year ended December 31, 2018. Use the indirect method to report cash flows from operating activities. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Jessie Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Cash flows from operating activities: Income before income tax Add (deduct) adjustments to cash basis: Depreciation Increase in accounts receivable Decrease in inventory -13,600 15,000 5,400 Increase in accounts payable Gain on sale of equipment Income tax paid in cash Net cash flows provided by operating activities Cash flows from investing activities: Increase in accounts payable 5,400 Gain on sale of equipment Income tax paid in cash Net cash flows provided by operating activities Cash flows from investing activities: Cash receipts from sale of equipment 2,600 Cash payments for purchase of equipment Net cash flows used in investing activities Cash flows from financing activities: Cash receipts from borrowing (long-term note payable) $ 20,000 Cash payments for dividends -39,800 -19,800 Net cash flows used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year