Prepare the cash flow statement for Kent Incorporated for the year ended December 31 2020. Kent Incorporated Balance Sheet For 12/31/2019 and 12/31/2020 Cash 2,019 2,020 $178,000 $200,000 128,000 140,000 224,000 200,000 Accounts receivable Inventory Prepaid expenses 20,000 20,000 Total current assets 560,000 Plant and equipment Accumulated depreciation 550,000 476,000 Total assets (80,000) $946,000 Accounts payable $170,000 Accrued expenses 136,000 Total current debt 306,000 Long Term loan 140,000 Common stock(par value) 410,000 Common stock( paid in capital) 100,000 622,000 (132,000) $1,050,000 $180,000 126,000 306,000 0 410,000 340,000 Retained earnings 90,000 94,000 Total debt and equity $946,000 $1,050.000 Kent Incorporated Income Statement For the Year Ended 12/31/2020 Revenue (all credit) $368,000 Cost of goods sold (120,000) Gross profit $248,000 Selling, general and admin. Expenses (88,000) Depreciation expense (52,000) Operating income $108,000 Interest expense (8,000) Earnings before taxes 100,000 Taxes (32,000) Net income $68,000 Preferred stock dividends (20,000) Net income avail. To common shareholders $48,000