The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings $58,900 43,200 148,100 15,000 104,600 198,900 (59,400) 231,100 (44,400) $696,000 $48,600 64,200 142,500 25,500 136,100 198,900 (33,500) 157,600 (37,800) $702,100 $46,200 260,000 192,900 196,900 $696,000 $39,300 293,500 159,400 209,900 $702,100 Total Additional information: 1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $10,500. 2. Land was sold for cash at book value. 3. Cash dividends of $57,900 were paid. 4. Net income for 2020 was $44,900. Equipment was purchased for $95,500 cash. In addition, equipment costing $22,000 with a book value 5. $12,500 was sold for $5,700 cash. 6. Bonds were converted at face value by issuing 33,500 shares of $1 par value common stock. Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Shou amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000) ROTHLISBERGER COMPANY Statement of Cash Flows X For the Month Ended December 31, 2020 4 Cash Flows from Operating Activities Net Income 44900 $ Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 44400 Decrease in Accounts Receivable Increase in Inventory Decrease in Prepaid Expenses X Increase in Accounts Payable X Depreciation Expense Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment Sale of Land ill X Sale of Equipment x X Net Cash Provided by Investing Activities Cash Flows from Investing Activities Net Income Net Cash Used by Financing Activities DODO Net Increase in Cash Cash at End of Period Noncash Investing and Financing Activities Conversion of Bonds by Issuance of Common Stock Click if you would like to Show Work for this question: Open Show Work