The comparative balance sheets of Pharoah Corporation at the beginning and end of the year 2020 appear below.

PHAROAH CORPORATION BALANCE SHEETS
		Dec. 31, 2020				Jan. 1, 2020				Inc./Dec.
Assets
Cash			$21,580				$15,260			$6,320	Inc.
Accounts receivable			107,580				90,260			17,320	Inc.
Equipment			40,580				24,260			16,320	Inc.
Less: Accumulated Depreciation-Equipment			(17,000	)			(11,000	)		6,000	Inc.
Total			$152,740				$118,780
Liabilities and Stockholders Equity
Accounts payable			$21,580				$17,260			4,320	Inc.
Common stock			101,580				82,260			19,320	Inc.
Retained earnings			29,580				19,260			10,320	Inc.
Total			$152,740				$118,780

Net income of $45,580 was reported, and dividends of $35,260 were paid in 2020. New equipment was purchased and none was sold.

1.Prepare a Statement of Cash Flow for the year 2020