The balance sheet provided by the title is only part of the balance sheet, so the final calculated Asset may not be equal to Equity and Liabilities, but it does not affect the preparation of the cash flow statement. Prepare a statement of cashflow( Direct method)

Comparative Statements of Financial Position December 31 Assets 2020 2019 Equipment 60,000 78,000 Accumulated depreciation (29,000) (24,000) equipment Investment Accounted for using the 5,500 Equity Inventory 30,000 20,000 Accounts receivable(Net) 33,000 14,000 Cash X 20,000 Total fY 108,000 0 Equity and Liabilities Capital stock Retained earnings Bonds payable Less: Discount on Bonds Payable Accounts payable Income taxes payable Total 18,000 49,500 117,000 6,000 14,000 38,000 33,000 0 29,000 7,000 214,500 15,000 8,000 108,000 Income Statement For the Year Ended December 31, 2020 Sales revenue 242,000 Cost of goods sold 175,000 Gross profit 67,000 Operating expenses 24,000 Income from operations 43,000 Share of Income from Associates 500 Interest expense 4,000 Income before income taxes 39,500 Income tax expense 8,000 Net income 31,500 Additional data: A. Depreciation expense is 13,300. B. Dividends declared and paid were 20,000. C. During the year, equipment was sold for 9,700 cash. This equipment cost 18,000 originally and had accumulated depreciation of 8,300 at the time of sale. D. All depreciation expense is in the operating expenses. E. All bad debt expense (Total: 1,000) is in the operating expenses. F. All operating expenses except for depreciation and bad debt expense were paid in cash G. Recife Company issued $90,000 of 7%, three-year bonds at 90 on January 1, 2020. Interest is payable on December 31. The company uses the straight-line method to amortize bond premiums and discounts. H. At the beginning of 2020, the amount of Allowance for Bad Debts is 0