SOURCES up to Exercise 5-14 a A comparative statement of financial position for Novak Industries Inc. follows: py Study NOVAK INDUSTRIES INC. Statement of Financial Position December 31, 2020 December 31 Assets 2020 2019 Cash $21,200 $34,200 Accounts receivable 122,000 55,400 Inventory 225,000 194,000 Land 90,000 128,000 Equipment 263,000 203,000 Accumulated depreciation-equipment (69,200) (42,900) Total $652,000 $571,700 Liabilities and Shareholders' Equity Accounts payable $53,800 $59,500 Bonds payable 168,600 209,600 Common shares 220,000 179,000 Retained earnings 209,600 123,600 Total $652,000 $571,700 Additional information: 1. Net income for the fiscal year ending December 31, 2020, was $147,000. 2. Cash dividends of $61,000 were declared and paid. Dividends paid are treated as financing activities. 3. Bonds payable amounting to $41,000 were retired through issuance of common shares. 4. Land was sold at a gain of $6,000. 5. No equipment was sold during the year. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow using eith