Prepare Cash flow statement using Indirect Method Balance sheet as on 31 December 2019 2020 (in $) 2019(in $) ASSETS Cash 8000 5000 Accounts receivable 15000 12000 Inventory 30000 33000 Net Equipment 24000 20000 Total assets 77000 70000 Liabilities and equity Accounts payable 21000 17000 Accrued liability 4000 5000 Common shares 35000 30000 Retained earnings 17000 18000 Total liabilities and equity 77000 70000 Income statement Sales 140,000 Cost of goods sold 30,000 Gross profit 1,10,000 Operating expenses- 80000 Depreciation expense 10000 Loss on sale of equipment 5000 95,000 Net income 15000 Additional Information Prepared by- Aradhana Khera 1. Equipment costing 20,000, depreciation 12000 was sold for $3000 2. Purchased equipment costing 22000 by paying 17000 cash and remaining as accounts payable 3. Paid cash dividend of 21000