PROBLEM 1: Presented below are the income statement and balance sheet of Windsor, Inc: Income Statement - 2020 Sales $100 40 60 7 Cost of goods sold Gross profit Operating expense Interest expense Taxes Gain on sale of equipment Loss on sale of investment 4 6 4 (1) Total expenses 20 Net income 40 Balance Sheet 2020 2019 Cash $10 $2 12 10 14 20 Accounts receivable Inventory Prepaid rent Investments 6 4 6 10 20 15 Equipment Accumulated depreciation Total assets (8) (6) 60 55 Accounts Payable 4 3 Taxes payable 3 10 Bonds payable 10 4 Common stock 30 28 Retained earnings 13 10 Total 60 55 Additional Information A. Sold investment that cost $4 for $3. B. Average shares of stock outstanding was $10. C. Market price of a share of common stock was $20. D. Equipment costing $5 with accumulated depreciation of $3 was sold for $6. CONTINUED Required: Prepare a statement of cash flows using the indirect method for 2020