Question 5 9.18/34 View Policies Show Attempt History Current Attempt in Progress The following is a condensed version of the comparative balance sheets for Novak Corporation for the last two years at December 31. 2020 2019 Cash $389,400 $ 171,600 Accounts receivable Investments 396,000 114,400 655,600 407,000 162,800 528,000 Equipment Accumulated Depreciation-Equipment (233,200) (195,800) Current liabilities 294,800 332,200 Common stock 352,000 675,400 352,000 389,400 Retained earnings Additional information: Investments were soldata loss of $22.000.no equipment was soldk cash dividends paid were $66.000 and net income was $352.000. o te me a 9 - C 4 1:26 PM /25/2020 2 Additional information: Investments were sold at a loss of $22,000; no equipment was sold; cash dividends paid were $66.000; and net income was $352,000. - Your answer is partially correct. Prepare a statement of cash flows for 2020 for Novak Corporation. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) NOVAK CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities ctivities Net Income $ 352000 352000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Sale of Investments