Question 11 (Grades) The following comparative balance sheets 2019 & 2020 and additional information for "National Company are given Dec. 31. Dec. 31. Assets 2020 2019 Cash $152,000 $44.000 Accounts Receivable 48,000 42.000 Inventory and supplies 28,000 38,000 Investments 0 36.000 Machines 114,000 104,000 Accumulated depreciation- (28.000) (20.000) Machines Total Assets $314.000 $244.000 Liabilities & Stockholders Equity Note payable Bonds payable (long-term) Common Stock Retained Earnings Total Liabilities & Stockholders Equity $74,000 64,000 80,000 96.000 $54,000 86,000 44,000 60.000 $314.000 $244.000 Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000 2 Sold investments for cash, cost $36,000 and resulting in $6,000 gain 3. The only changes affecting retained earnings are net income and cash dividends paid 4. All the following transactions are in cash: Purchased new machines, repay bonds payable, and issuance common stock Required: Prepare the full statement of cash flows using indirect method for the year ended December 31, 2020