Prepare a Statement of Cash Flows, Indirect Method. Glenbrook Company's most recent balance sheet, income statement, and other important information for 2020 are presented as follows. Glenbrook Company Balance Sheet December 31, 2020 and December 31, 2019 Assets Current assets Cash Accounts receivable Merchandise inventory Prepaid expenses Noncurrent assets Property, plant, and equipment Accumulated depreciation Long-term investments Total assets \begin{tabular}{rr} 2020 & \multicolumn{1}{r}{2019} \\ \cline { 1 - 1 } & \\ $139,000 & $185,000 \\ 75,000 & 66,000 \\ 113,000 & 116,000 \\ 9,000 & 4,000 \\ 761,000 & 705,000 \\ (225,000) & (188,000) \\ 125,000 \\ \hline$997,000 & \\ \hline \end{tabular} Llabilities and owners' equity Current liabilities Accounts payable Income tax payable Noncurrent liabilities Bonds payable Owners'equity Common stock Retained eamings Total liabilities and owners' equity Additional data for 2020 are as follows: Sold equipment with a book value of $30,000(=$40,000cost$10,000 accumulated depreciation ) for $28,000 cash - Purchased equipment for $96,000 cash There were no sales of long-term investments (Hint: Solve for the purchase of long-term investments.) - Issued bonds for $16,000 cash Repurchased common stock (treasury shares) for $45,000 cash Declared and paid $12,000 in cash dividends Required: Use the four steps described in the chapter to prepare a statement of cash flows for the year ended December 31,2020, using the indirect method. Refer to the format presented in Figure 6.7 "Statement of Cash Flows (Home Store, Inc.)". - Briefly describe the major changes in cash identified in the statement of cash flows