The comparative balance sheets for Beneteau Company appear below: BENETEAU CORPORATION Comparative Balance Sheet 2020 2019 Assets Cash $37.000 $31,000 Accounts receivable (net) 80.000 60,000 Prepaid insurance 22.000 17.000 Land 18.000 40.000 Equipment 67.000 60.000 Accumulated depreciation (17.000 (13.000 Total assets $207.000 $195.000 Liabilities and Stockholder's Equity Accounts payable $12.000 $6.000 Bonds payable 27.000 19.000 Common stock 140.000 115.000 Retained earnings 28.000 55.000 $207.000 $195.000 Total liabilities and stockholder's equity Additional information: Net loss for 2020 is $12.000. Net sales for 2020 are $250.000. 2. Land was sold for cash at a loss of $2,000. This was the only land transaction during the year. 3. Equipment with a cost of $15.000 and accumulated depreciation of $10,000 was sold for $5.000 cash. The company issued and retired bonds in the current year. Retirement of bonds was $12.000. 5. Equipment was purchased for $22.0001 6. Stock was issued for $25.000 Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a-sign e g. -15,000 or in parenthesis eg. (15,000). If answer is zero please enter O, do not leave any fields blank.) BENETEAU CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Lass - 12000 Adjustments to reconcile net income to Net Cash Used by Operating Activities Depreciation Expense $ 10000 Loss on Disposal of Land 2000 increase in Accounts Receivable -20000 Increase in Prepaid Insurance -5000 6000 increase in Accounts Payable Net Cash Used try Operating Activities 0.77 / 1 Net Cash Used by Operating Activities -46000 Cash Flows from Investing Activities Proceeds from the sale of Land 20000 Proceeds from the sale of Equipment 5000 Purchase of Equipment - 15000 Net Cash Provided by Investing Activities Cash Flows from Financing Activities 47 Retirement of Bonds Payable V -12,000 issuance of Bonds Payable V 20000 Issuance of Common Stock V 25000 Payment of Dividends 15000 Net Cash Provided by Financing Activities Net Increase in Cash Cash at Beginning of Period Question 6 of 7 0.77 / 1 LOCUTTUNTURICUOICUT LOFT ZUUU! Proceeds from the sale of Equipment 5000 Purchase of Equipment -15000 Net Cash Provided by Investing Activities Cash Flows from Financing Activities Retirement of Bonds Payable - 12.000 Issuance of Bonds Payable 20000 Issuance of Common Stock 25000 Payment of Dividends 15000 Net Cash Provided by Financing Activities Net Increase in Cash Cash at Beginning of Period $ Cash at End of Period e Textbook and Media