Problem 12-09A Condensed financial data of Sunland Company follow. Sunland Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $104,700 $47,800 Accounts receivable 91,000 34,000 Inventory 112,600 101,700 Prepaid expenses 29,300 25,800 Investments 140,600 113,000 Equipment 264,300 242,200 Accumulated depreciation-equipment (47,800) (52,900) Total $694,700 $511,600 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,800 $67,400 16,000 17,100 115,600 149,500 220,700 175,900 230,600 101,700 $694,700 $511,600 2). 24 os 06 09 Sunland Company Income Statement For the Year Ended December 31, 2020 Sales revenue $391,400 Less: Cost of goods sold $134,600 Operating expenses, excluding depreciation 12,300 Depreciation expense 33,200 Income tax expense 26,800 Interest expense 4,400 Loss on disposal of plant assets 7,500 218,800 Net income $172,600 Z 2 Additional information: 1. New equipment costing $80,900 was purchased for cash during the year. 2. Old equipment having an original cost of $58,800 was sold for $13,000 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $43,700 was declared and paid during the year. Cool Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with either a signe.g.-15,000 or in parenthesis e.g. (15,000).) sion) Sunland Company Sunland Company Statement of Cash Flows Adjustments to reconcile net income to Question Attempt 1 of 2 used SAVE POR LATER SUBMIT