Prepare the Statement of Cash Flow for Faraday Power Company using the indirect method. The condensed financial statements appear below: FARADAY POWER COMPANY Statement of Financial Position March 31 Assets 2020 2019 Cash $ - $. Accounts receivable 27,000 27,600 Inventory 129,900 120,800 Prepaid expenses 4,500 2,800 Property, plant, and equipment 225,900 207,400 Accumulated depreciation (104,200 ] (95,100) $283,100 $263,500 Liabilities and Shareholders' Equity Short-term bank debt $36,700 $33,200 Accounts payable 35,600 36,100 Dividends payable 8,300 7,900 Long-term loan payable 46,800 48,500 Common shares 7,000 7,000 Retained earnings 148,700 130,800 $283,100 $263,500 FARADAY POWER COMPANY Statement of Income Year Ended March 31, 2020 Sales revenue $ 344,800 Cost of goods sold 210,500 Gross profit 134,300 Wages expense $53,000 Administration expense 24,000 Depreciation expense 19,600 Repairs and maintenance expense 6,100 102,700 Net income from operations 31,600 3,300 Interest expense Loss on sale of equipment 4,200 7,500 Earnings before income tax 24,100 Income tax expense Net income $ 24,100 Additional information: 1. Equipment originally costing $49,500 was sold during the year for $34,800. 2. The company had proceeds from short term bank loan of $3,500. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis eg. (15,000).) FARADAY POWER COMPANY Statement of Cash Flows (Indirect Method) Year Ended March 31, 2020 $ Adjustments to Reconcile Net Income to