prepare a statement of cash flows for the year ended 12/31/2020 using the INDIRECT METHOD.

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Selected financial statement information and additional data for Johnston Enterprises is presented below. Prepare a statement of cash flows for the year ending December 31, 2020 Kennedy Enterprises Balance Sheet and Income Statement Data December 31, December 31, 2020 2019 Current Assets: Cash $153,000 $119,000 Accounts Receivable 238,000 306.000 Inventory 391.000 340.0 Total Current Assets 782,000 765,000 Property, Plant, and Equipment Less: Accumulated Depreciation Total Assets 1,241,000 (476.000) $1.547.000 1.122,000 (442.000) $1.445.000 Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $187.000 51,000 85.000 323,000 $102,000 68,000 76.500 246,500 Bonds Payable Total Liabilities 340.000 663.000 391.000 637.500 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 510.000 374.000 884.000 $1.547.000 467,500 340.000 807.500 $1.445.000 Sales Revenue 1,615,000 Loss Cost of Goods Sold 751.000 Gross Profit 864,000 Expenses: Depreciation Expense 153,000 Salaries and Wages Expense 391,000 Interest Expense 34,000 Loss on Sale of Equipment 12.000 Income Before Taxes 274,000 Less Income Tax Expense 110.000 Net Income $ 164.000 Additional Information: During the year, Johnston sold equipment with an original cost of $153,000 and accumulated depreciation of $119,000 and purchased new equipment for $272,000 Prepare a Statement of Cash Flows for the year ended 12/31/20 using the Indirect Method