Ritter Inc.'s financial statements showed the following: Balance Sheet Information December 31, 2020 2020 Cash $236,600 Accounts receivable 33,000 Merchandise inventory 61,500 Long-term investment 0 Machinery 455,000 Accumulated depreciation, machinery (290,000) Total assets $496,100 Accounts payable $65,600 Bonds payable 66,000 Common shares 200,000 Retained earnings 164.500 Total liabilities and shareholders' equity $496.100 2019 $146,500 47,000 49,000 26,000 365,000 (200,000) $433,500 $51,200 0 200,000 182.300 Difference $90,100 (14,000) 12,500 (26,000) 90,000 (90,000) $62,600 $14,400 66,000 (17.800) $415.700 $62,600 $982,000 Income Statement For the Year Ended December 31, 2020 Sales Cost of goods sold $703,000 Other expenses 135,000 Depreciation expenses 90.000 Profit from operations 928.000 $54,000 equity 496,100 415,700 02.00U $982,000 Income Statement For the Year Ended December 31, 2020 Sales Cost of goods sold $703,000 Other expenses 135,000 Depreciation expenses 90,000 Profit from operations Loss on sale of long-term investment Profit 928.000 $54,000 10.000 $44,000 The following occurred during 2020: a. Purchased machinery for $90,000 cash. b. Sold the long-term investment for $16,000. c. Issued $66,000 of bonds payable at face value. d. Declared and paid a $61,800 cash dividend. Required: Prepare a Statement of Cash Flows using the indirect method. (15 marks) Format B I U CE o BE ASUS VivoBook Home/Debut 19 End/Fin 110 Pouple pic IT 15! 16