The comparative statement of financial position of Pina Colada Corporation as at December 31, 2020, follows: PINA COLADA CORPORATION Statement of Financial Position December 31 December 31 Assets 2020 2019 Cash $ 54,500 $ 13,700 89,400 88,300 27,700 21,500 (9,800) (10,300) Accounts receivable Equipment Less: Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable Common shares $ 161,800 $ 113,200 $ 20,400 $ 14,600 100.000 80,500 Liabilities and Shareholders' Equity $ 20,400 $ Accounts payable Common shares 14,600 100,000 80,500 Retained earnings 41,400 18,100 Total $ 161,800 $ 113,200 Net income of $ 36,600 was reported and dividends of $ 13,300 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value o 4,200 (cost of $ 11,700 and accumulated depreciation of $ 7,500) was sold for $8,300. Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Pina Colada prepares financial statements in accordance with ASPE. (Show amounts that decrease cash flow with elther a-sign 03.-15,000 or in parenthesis eg. (15,000).) PINA COLADA CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income /(Loss) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Expense $ Gain on Disposal of Equipment