Take me to the text Behemoth Manufacturing makes and sells integrated circuit boards. At the end of 2020, the income statement and comparative balance sheet were prepared as shown below. Behemoth Manufacturing Balance Sheet As at May 31 2020 2019 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets $311,500 $120,900 $226,200 $250,900 $511,800 $452,800 $24,200 $24,200 $1,073,700 $848,800 Long-Term Assets Land Equipment Less: Accumulated Depreciation Total Long-Term Assets Total Assets $23,000 $357,000 $357,000 $-110,000 $-95,100 $247,000 $284,900 $1,320,700 $1,133,700 Liabilities Current Liabilities Accounts Payable $306,700 $321,800 Notes Payable, Current Portion $35,100 $25,100 Total Current Liabilities $341,800 $346,900 Notes Payable, Long-Term Portion $213,400 $185,600 tan 2020 2019 Assets Current Assets Cash $311,500 $120,900 Accounts Receivable $226,200 $250,900 Merchandise Inventory $511,800 $452,800 Prepaid Expenses $24,200 $24,200 Total Current Assets $1,073,700 $848,800 Long-Term Assets Land $23,000 Equipment $357,000 $357,000 Less: Accumulated Depreciation $-110,000 $-95,100 Total Long-Term Assets $247,000 $284,900 Total Assets $1,320,700 $1,133,700 Liabilities Current Liabilities Accounts Payable $306,700 $321,800 Notes Payable, Current Portion $35,100 $25,100 Total Current Liabilities $341,800 $346,900 Notes Payable, Long-Term Portion $213,400 $185,600 Total Liabilities $555,200 $532,500 Shareholders' Equity Common Shares $272,000 $247,000 Retained Earnings $493,500 $354,200 Total Shareholders' Equity $765,500 $601,200 Total Liabilities and Equity $1,320,700 $1,133,700 Total Shareholders' Equity Total Liabilities and Equity $765,500 $601,200 $1,320,700 $1,133,700 Additional Information: During 2020, land was sold for a loss of $5,800. There was no purchase of equipment throughout the year. The company did not pay off any amount of the notes payable. Behemoth Manufacturing Income Statement For the Year Ended May 31, 2020 Sales $2,581,000 Cost of Goods Sold $1,548,600 Gross Profit $1,032,400 Operating Expenses Depreciation Expense $14,900 Other Operating Expenses $731,700 Total Operating Expenses $746,600 Income from Operations $285,800 Other Income and Expenses Loss on Sale of Land $-5,800 Income before Income Tax $280,000 Income Tax $98,000 Net Income $182,000 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Net Income $182,000 Create the cash flow statement using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Behemoth Manufacturing Cash Flow Statement For the Year Ended May 31, 2020 Cash Flow from Operating Activities Net Income Adjustments to Reconcile Net Income to Cash Depreciation Loss on Sale of Land Change in Operating Assets and Liabilities Decrease in Accounts Receivable Increase in Merchandise Inventory Decrease in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of Land Net Cash Provided (Used) by Investing Activities Change in Operating Assets and Liabilities Decrease in Accounts Receivable Increase in Merchandise Inventory Decrease in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of Land Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds from Notes Payable Payment of Cash Dividend Issue of Common Shares Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year Cash at the End of the Year