Please show your work/ t-accounts as well :)

Cash Flows 3 Below are Mandalorian Company's recent comparative balance sheet and income statement: Mandalorian Company Balance Sheet Assets Cash and cash equivalents (combine from B/S) $ Accounts receivable (net) Inventory Investment, long-term Plant Equipment Land Patents Accumulated depreciation plant Accumulated depreciationequipment Total assets $ As of December 31 2019 2020 8.000 $ 22.000 18,000 24,000 16.000 10,000 4,000 60,000 60,000 40,000 44,000 20,000 80.000 16,000 14,000 (14,000) (20,000) (20,000) (16,000) 148,000 $ 218,000 $ $ 4,000 Liabilities and Stockholders' Equity Accounts payable Salaries payable Taxes payable Notes payable, long-term Common stock, no par Retained earnings Total liabilities and stockholders' equity 13,000 2,000 3.000 20,000 100,000 10,000 148.000 38,000 150,000 26,000 218,000 $ Mandalorian Company Income Statement For Year Ended December 31, 2020 Sales revenue Cost of goods sold Patent amortization Other operating expenses Loss on sale of equipment Gain on sale of long-term investment Income tax expense Net income $ 180,000 (110,000) (2,000) (50,000) (2,000) 16,000 (8,000) $ 24,000 Additional Information: 1. Mandalorian sold equipment that cost $ 16,000 and was 50% depreciated for $6,000 in cash. 2. Mandalorian purchased land that cost $20,000. It paid $4,000 in cash and issued a long-term note for the balance. 3. Purchased $10,000 of equipment by issuing an interest-bearing note. 4. Issued 3,000 shares of common stock, fair value of $30,000, for land that cost $40,000; the balance was paid in cash 5. Mandalorian sold its long-term investments for $20,000 in cash. The investments were debt securities classified as available-for-sale. The securities were purchased December 31, 2019 and therefore had no valuation allowance associated with them. 6. Interest paid in 2020 was $2,000. Required: 1. Prepare a statement of cash flows using the indirect method