Problem#1 - [20 marks] 20.0 points possible (graded, results hidden) The 2020 Income statement and selected items of the comparative balance sheet of Ebally. are presented below: Income Statement .. $ Sales 546000 Less: Cost of goods sold .... ...360000 Gross margin. .... 186000 Less: Operating expenses (includes depreciation)...... 124700 Income from operations. ....61300 Other: Gain on sale of investments. ..???? [see note 3] Loss on sale of machinery .... ???? [see note 4] Net income. ??? 2020. Balance Sheet (selected items) Details ... . 2019 Land.. 70300. Balance Sheet (selected items) Details.. 2020. 2019 Land 70300. 70300 Buildings. 67000. 56000 Accumulated Dep-Buildings. 13100... 10000 Machinery .. 30000.. 17000 Accumulated DeprMachinery ..5400. 2000 Accounts Receivable ..... 74000.. 64000 (-) Allowance for Doubtful debts . . 2600 1100 Cash. ??????? 33630 Merchandise Inventory .... 30100.. . 23600 Investments (short-term). 22000 38000 Accounts Payable. 35000.. 22000 Accrued Payables ... 3400. 2600 Long-Term Note Payable ... .... 31000 Common Stock, no par.. 123200.0 .... 112000 Retained Earnings 36700. 21000.... 35000... 3400.. 21000. Accounts Payable .. 22000 Accrued Payables. 2600 Long-Term Note Payable .... ... 31000 Common Stock, no par.... 112000 Retained Earnings . 41800 123200.0.... 36700. Additional Information: 1. Cash dividends were declared and paid during the year. 2. A 10% stock dividend was declared during the year. $11200.0 of retained earnings was capitalized. 3. Investments that cost $16000 were sold during the year for $26000. 4. Machinery that cost $3100, on which $710 of depreciation had accumulated, was sold for $2100. Instruction: Prepare the Cash Flow Statement of Ebally for the year ending 31st December 2020 (using the indirect method) and find out the ending cash balance of 2020