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Question 2 (35 points) Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows using the

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Question 2 (35 points) Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows using the indirect method with all appropriate disclosures for the year ending December 31 2020 2019 2020 Cash $54,000 $60,000 Accounts receivable (net 72,000 144,200 Inventory 168,000 206,600 Land 58,800 26,000 Equipment 504,000 789,600 Accumulated depreciation (84.000) (110.600) TOTAL $772.800 $1.115,800 Accounts payable 50,400 91.000 Notes payable - due within 12 months 67200 29,400 Notes payable-long-term 168,000 302.400 Common stock 420.000 487.200 MacBook Pro G Search Or De URL 3 * 01% 6 N 8 9 0 E R T Y U 1 0 P D F G H J L 2019 2020 Cash $54,000 $60,000 Accounts receivable (net) 72,000 144,200 Inventory 168,000 206,600 Land 58,800 26,000 Equipment 504,000 789,600 Accumulated depreciation (84.000) (110.600) TOTAL $772,800 $1,115,800 Accounts payable 50,400 91,000 Notes payable - due within 12 months 67,200 29.400 Notes payable - long-term 168,000 302.400 Common stock 420,000 487,200 Retained earnings 67.200 205.800 TOTAL $772.800 $1.115.800 Notes payable - long-term 168,000 302,400 Common stock 420,000 487,200 Retained earnings 67,200 205,800 TOTAL $772,800 $1,115,800 Additional data for 2020: 1. Net income was $230,200. 2. Land was sold at a gain of $10,000. No land was bought during the year. 3. No equipment was sold during the year. All equipment purchases were paid for in cash. 4. Interest payments amounted to $20,000 and Tax payments amounted to $15,000

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