The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at December 31 2020 2019 ASSETS Current Assets Cash $170,159 $51,400 Accounts receivable $22,400 $15,300 Merchandise inventory $24,600 $26,000 Total Current Assets $217,159 $92,700 Property, plant & equipment(1) $129,000 $188,000 Less: Accumulated depreciation $-26,400 $-23,800 TOTAL ASSETS $319,759 $256,900 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $29,600 $33,900 Notes payable-current portion $9,800 $9,800 Total Current Liabilities $39,400 $43,700 Notes payable-long-term portion $78,000 $41,000 TOTAL LIABILITIES $117,400 $84,700 Shareholders' Equity Common shares $85,000 $55,900 Retained earnings(2) $117,359 $116,300 TOTAL SHAREHOLDERS' EQUITY $202,359 $172,200 TOTAL LIABILITIES AND EQUITY $319,759 $256,900 Additional Information: 1. Property Plant & Equipment During 2020, equipment was sold for a loss of $4,600. The cash proceeds from the sale totaled $54,400. 2. Retained Earnings Joe's Fish Hut declared and paid $6,000 in dividends in 2020, Joe's Fish Hut Income Statement For the Year Ended December 31, 2020 Sales $129,000 COGS $83,850 Gross Profit $45,150 Operating Expenses Depreciation Expense $2,600 Other operating expenses $27,090 Total Operating expenses $29,690 Operating Income $15,460 Other Income Loss on Sale of Equipment $4,600 Net Income Before Tax $10,860 Income Tax 53,801 Net Income $7,059 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. Joe's Fish Hut Cash Flow Statement For the Year Ended December 31, 2020 Cash Flow from Operating Activities Net Income Add: Depreciation Add: Loss on sale of equipment Change in Operating Assets and Liabilities Increase in Accounts Receivable Decrease in Merchandise Inventory Decrease in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issue of common shares Receipt of notes payable Payment of cash dividend 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 ce to search o