The comparative balance sheets for 2019 and 2018 and the statement of income for 2019 are shown below for National Company. Additional information from NIC's accounting records is provided also. NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2019 and 2018 is in millions) Assets 2019 2018 181 170 (6) Accounts receivable Less Allowance for uncollectible accounts Prepaid insurance Inventory Long-term investment................... 170 165 66 90 Land 150 290 Buildings and equipment..... Less: Accumulated depreciation Trademark...... .. .. 150 270 (75) (85) 25 $ 847 S1856 $ 30 $ 45 60 145 Liabilities Accounts payable.................... Salaries payable... Income tax payable... Long term nate payable.................. Bonds payable...... Less: Discount on bonds payable...... Shareholders' Equity Common stock ........... Paid-in capital in excess of par............ Preferred stock ..... Retained earnings (22) 275 (25) 310 290 50 0 163 158 $1847 IS in millions $ 320 S 340 125 NATIONAL INTERCABLE COMPANY Income Statement For the Year Ended December 31, 2019 Revenues Sales revenue. Investment revenue Gain on sale of investments Expenses and Costs Cost of goods sold... Salaries expense. Depreciation expense Trademark amortivation expense Bad debt expense Insurance expense Bond interest expense Loss from sale of building Income before tax and extraordinary item Income tax expense. Net income Additional information on next page: Problem I, continued Additional information from the accounting records: 1. Investment revenue includes National Intercable Company's $6 million share of the net income of Central Fiber Optics Corporation, an equity method investee. Hint: to record the revenue from this investment, National Intercable properly debited long-term investment and credited investment revenue for $6 million. 2. Other long-term investments, originally purchased for $30 million, were sold for $35 million. 3. A building that originally cost $60 million, and which was one-fourth depreciated, was sold for $24. 4. A building was acquired for $60 million, paying $20 million in cash and financing the other $60 million with a long-term note payable 5. $130 million of bonds payable were retired at maturity. 6. $20 million par value of common stock was sold for $30 million, and $50 million of preferred stock was sold at par. Required: Prepare a statement of cash flows for National tercable Company, using the indirect method. Complete the t-accounts and show any computations. General Journal (optional, if you wish to record some of the journal entries for National intercable company)