The 2020 balance sheet of Brightline Industries Ltd. is presented below: Brightline Industries Ltd. Balance Sheet As at December 31, 2020 Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant and equipment Less: Accumulated depreciation Total Assets 2020 2019 $ 460,500 $ 346,500 435,400 543,400 634,000 377,000 32,000 26,000 1,561,900 1,292,900 4,150,500 3,623,500 (1,251,000) (926,000) $ 4,461,400 3,990,400 Change ($) 114,000 108,000 257,000 1 6,000 527,000 325,000 25,000 7,000 6,100 8,000 5,000 Accounts payable Accrued liabilities Unearned revenue Wages payable Income taxes payable Total current liabilities Term loan payable Total liabilities Preferred shares Common shares Retained earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $ 332,000 $ 357,000 15,000 8,000 12,400 18,500 20,000 12,000 29,000 24,000 408,400 419,500 2,400,000 1,900,000 2,808,400 2,319,500 120,000 120,000 915,200 847,000 617,800 703,900 1,653,000 1,670,900 $4,461,400 $3,990,400 500,000 68,200 86,100 Additional Information 1. Brightline's net income for the year ended December 31, 2020, was $205,100. Included in the calculation of net income was depreciation expense of $425,400, and a loss on the disposal of equipment of $12,400. 2. Equipment that had an original cost of $127,000 was sold for cash during 2020. No other equipment was sold during the year, but equipment was purchased for cash. 3. A stock dividend was declared and issued on the common shares during 2020. Other than the stock dividend, no other activity occurred with respect to the common shares account. 4. A cash dividend was declared and paid in 2020. Required: In the table below, prepare in good form the statement of cash flows for Brightline Industries Ltd. for the year ended December 31, 2020, using the indirect method. Show your calculations for part marks