The comparative statements of financial position of ABC Company at the beginning and end of the year 2020 appear below. ABC Company STATEMENTS OF FINANCIAL POSITION Assets ) Dec. 31, 2020 Jan 1, 2020 Land 49000 0 Equipment 13,000 9,000 Less: Acc. Dep. equipment 5,000 3000 Accounts receivable 8,000 6,000 Inventory 6,000 5,000 Cash 17,000 18,000 Total 88,000 35,000 Equity and Liabilities 13,000 11.000 69,000 15,000 Share Capital-ordinary Retained earnings Accounts payable Tax payable Total 1.000 2.000 5,000 88,000 7,000 35.000 Additional information: Net income reported in 2020 was $ 7000 Dividends pald in 2020 was 5 2000 New equipment was purchased in 2020 costing $ 4,000 A land was obtained from the government as a gift $ 49000 Instructions: Prepare a statement of cash flows for the year 2020