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Sunny Technologies Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019, and 2020 is shown below along with some

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Sunny Technologies Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019, and 2020 is shown below along with some other information Sunny Technologies Inc. Income Statement For Year Ended December 31, 2020 Revenues: Sales Cost of goods sold Gross Profit Expenses and other Other expenses $ 154,300 Depreciation expense 24,700 Total operating expenses Operating Profit (Loss) Loss on sales of plant assets Profit (Lons) 5 626,300 482,300 144,000 179,000 (35,000) 19.900 $ (54,900) Sunny Technologies Inc. Pont-Closing Trial Balance December 31 Account 2020 2019 Cash $ 60,600 $ 76,990 Receivables 39,800 29,500 Merchandise inventory 26,300 34,300 Property, plant and equipment 229,500 190,590 Accumulated depreciation 63,100 51,900 Accounts payable 46,520 62,400 Nccrued liabilities 10,300 5.500 Notes payable 97,790 40,190 Common shares 49,790 0.000 Retained earning 00, 700 163,390 Other information regarding Sunny and its activities during 2020: 1. Assume all accounts have normal balances. rach dividende wara declarat and diving the var Other information regarding Sunny and its activities during 2020: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. Plant assets were sold during the year. 4. Plant assets worth $98,300 were purchased during the year by paying cash of $31100 and issuing a long-term note payable for the balance Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2020. (List any deduction in cash and cash outflows and loss as negative amounts.) SUNNY TECHNOLOGIES INC Statement of Cash Flows For Year Ended December 31, 2020 Cash flows from operating activities: Adjustments to reconcile profit to net cash inflows from operating activities: Cash flows from investing activities

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