Problem 23-01 The following are Coronado Corp.'s comparative balance sheet accounts at December 31, 2020 and 2019, with a column showing the increase (decrease) from 2019 to 2020. COMPARATIVE BALANCE SHEETS Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets 2020 $818,200 1, 132,100 1,841,000 3,334,900 (1,157,500) 308,600 249,300 $6,526,600 2019 $696,600 1,177,800 1,713,900 2,970,400 (1,030,100) 273,500 Increase (Decrease) $121,600 (45,700 ) 127,100 364,500 (127,400) 35,100 249,300 $724,500 $5,802,100 $949,700 50,300 99,900 $57,500 (20,100) (19,900 ) 424,100 Accounts payable Income taxes payable Dividends payable Lease liabililty Common stock, $1 par Paid-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity $1,007,200 30,200 80,000 424,100 500,000 1,491,400 2,993,700 $6,526,600 500,000 1,491,400 2,710,800 $5,802,100 282,900 $724,500 Additional information: 1. On December 31, 2019, Coronado acquired 25% of Myers Co.'s common stock for $273,500. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,094,000. income $140,400 for the year ended December 31, 2020. No dividend nmon stock during the year. 2. During 2020, Coronado loaned $324,900 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $75,600, plus interest at 10%, on December 31, 2020. 3. On January 2, 2020, Coronado sold equipment costing $59,600, with a carrying amount of $38,200, for $39,600 cash. 4. On December 31, 2020, Coronado entered into a capital lease for an office building. The present value of the annual rental payments is $424,100, which equals the fair value of the building. Coronado made the first rental payment of $60,600 when due on January 2, 2021. 5. Net income for 2020 was $362,900. 6. Coronado declared and paid the following cash dividends for 2020 and 2019. Declared Paid Amount 2020 December 15, 2020 February 28, 2021 $80,000 2019 December 15, 2019 February 28, 2020 $99,900 Prepare a statement of cash flows for Coronado Corp. for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) CORONADO CORP. Statement of Cash Flows Adjustments to reconcile net income to > Click if you would like to Show Work for this question: Open Show Work