Sweet Inc., a greeting card company, had the following statements prepared as of December 31, 2020. SWEET INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $7,000 Accounts receivable 62,200 51,500 Short-term debt investments (available-for-sale) 17,900 34,900 40,300 Inventory 60,500 Prepaid rent 5,000 3,900 Equipment 153,200 131,200 (24,700) Accumulated depreciation-equipment (35,000) Copyrights 46,200 49,800 Total assets $312,900 $297,100 Accounts payable $46,000 $40,000 Income taxes payable 4,000 6,000 Salaries and wages payable 7,900 4,000 Short-term loans payable 8,100 10,100 Long-term loans payable 59,800 69,200 Long-term loans payable 59,800 69,200 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 57,100 37,800 Total liabilities & stockholders' equity $312,900 $297,100 SWEET INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $336,150 Cost of goods sold 174,100 Gross profit 162,050 Operating expenses 120,800 Operating income 41,250 Interest expense $11,400 Gain on sale of equipment 1,900 9,500 Income before tax 31,750 Income tax expense 6,350 Net income $25,400 Additional information: 1. Dividends in the amount of $6,100 were declared and paid during 2020. 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of $20,200 and was 70% depreciated was sold during 2020. Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financin e.g. - 15,000 or in parenthesis e.g. (15,000).) SWEET INC. Statement of Cash Flows For the Year Ended December 31, 2020 - Cash Flows from Operating Activities Cash Received from Customers 336150 Cash Payments to Suppliers Cash Payments for Operating Expenses Cash Payments for Interest Cash Payments for Income Taxes