The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at November 30 2020 2019 ASSETS Current Assets Cash $139,326 $51,400 Accounts receivable $18,700 $16,400 Merchandise inventory $23,500 $29,000 Total Current Assets $181,526 $96,800 Property, plant & equipment(1) $136,000 $174,000 Less: Accumulated depreciation $-28,800 $-20,300 TOTAL ASSETS $288,726 $250,500 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $32,300 $40,700 Notes payable-current portion $6,800 $6,800 Total Current Liabilitie Notes payable-current portion Total Current Liabilities $6,800 $6,800 $39,100 $47,500 Notes payable-long-term portion $84,000 $49,000 TOTAL LIABILITIES $123,100 $96,500 Shareholders' Equity Common shares $76,000 $58,700 Retained earnings(2) $89,626 $95,300 TOTAL SHAREHOLDERS' EQUITY $165,626 $154,000) TOTAL LIABILITIES AND EQUITY $288,726 $250,500 Additional Information: 1. Property, Plant & Equipment During 2020, equipment was sold for a loss of $6,400. The cash proceeds from the sale totaled $31,600. 2. Retained Earnings Joe's Fish Hut declared and paid $7,000 in dividends in 2020. Joe's Fish Hut declared and paid $7,000 in dividends in 2020. Joe's Fish Hut Income Statement For the Year Ended November 30, 2020 Sales COGS Gross Profit $121,000 $78,650 $42,350 Operating Expenses Depreciation Expense $8,500 Other operating expenses $25,410 Total Operating Expenses $33,910 Operating Income $8,440 Other Income Loss on Sale of Equipment $6,400 Net Income Before Tax $2,040 Income Tax $714 Net Income $1,326 Create the cash flow statement using the indirect method