The comparative balance sheets for Marigold Corporation show the following information. December 31 2020 2019 Cash $33,300 $12,900 Accounts receivable 12,200 10,000 Inventory 11,900 9,000 Available-for-sale debt investments -0- 2,900 Buildings -0- 29,800 Equipment 44,900 20,100 Patents 5,000 6,300 $107,300 $91,000 Allowance for doubtful accounts $3,000 $4,500 Accumulated depreciation-equipment 2,000 4,400 Accumulated depreciation-building -0- 6,000 Accounts payable 5,000 2,900 Dividends payable -0- 4,900 Notes payable, short-term (nontrade) 3,000 4,000 Long-term notes payable 31,000 25,000 Common stock 43,000 33,000 Retained earnings 20,300 6,300 $107,300 $91,000 Additional data related to 2020 are as follows. 1. Equipment that had cost $10,900 and was 40% depreciated at time of disposal was sold for $2,600. 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $4,900. 4. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $29,900 (net of $2,100 taxes). 5. Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $2,100 and income taxes of $6,500 were paid in cash. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) MARIGOLD CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 44300 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Loss on Sale of Equipment $ 800 Gain from Flood Damage Depreciation Expense Patent Amortization Gain on Sale of Investments 3800 1000000! OD Increase in Accounts Receivable (Net) 9200 Increase in Inventory 6400 Increase in Accounts Payable 700 45050 Net Cash Provided by Operating Activities 45050 Cash Flows from Investing Activities Sale of Investments 28600 Sale of Equipment 2250 Purchase of Equipment 15400 Proceeds from Flood Damage to Building 11700 Net Cash Provided by Investing Activities 5250 Cash Flows from Financing Activities Payment of Dividends 20900 Payment of Short-term Note Payable 10200 Net Cash Used by Financing Activities 31100 Net Increase in Cash 8700 Cash, January 1, 2020 33700 Cash, December 31, 2020 42400 Supplemental disclosures of cash flow information: Cash Paid During the Year for Interest $ Cash Paid During the Year for Income Taxes $ Noncash Investing and Financing Activities Retired Notes Payable by Issuing Common Stock Purchased Equipment by Issuing Notes Payable $