Statement of Cash Flows (9 points) The comparative balance sheets of NN, Inc at December 31, 2019 and 2018 are as follows: Assets Cash Accounts Receivable Merchandise Inventory Equipment (at cost) Accumulated Depreciation (Eqpt.) Total Assets Dec 31, 2019 Dec 31, 2018 20,000 $ 10,000 70,000 50,000 170,000 150,000 340,000 300,000 (65,000) (50.000) 535,000 $ 460,000 10,000 $ Liabilities and Owners' Equity Accounts Payable (operations) Mortgage Note Payable Common Stock $5 Par Retained Earnings Total Liabilities and Owners' Equity 150,000 375.000 $35,000 $ 5,000 100,000 95,000 260.000 460,000 a. Net income during 2019 was $135,000 b. Depreciation expense reported on the income statement was $15,000. c. Eqpt was purchased at a cost of $40,000 and no equipment was disposed of. d.11,000 shares of common stock were issued at $5 each. e. Cash dividends declared and paid, $20,000, Please prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities. Statement of Cash Flows (9 points) NN, Inc. Statement of Cash Flows for the Year Ended December 31, 2019 OPERATING ACTIVITIES Net Income Net Cash From Operations INVESTING ACTIVITIES Net Cash Used in Investing Activities FINANCING ACTIVITIES Net Cash Used in Financing Activities Net Change in Cash Cash at the Beginning of the Year Cash at the End of the Year