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 13,000 9,000 Equipment Less: Acc. Dep. equipment 5,000 3000 Accounts receivable 8,000 6,000 6,000 5,000 Inventory Cash 17,000 88,000 18,000 35,000 Total 13,000 11,000 Equity and Liabilities Share capital-ordinary Retained earnings Accounts payable Tax payable Total 69,000 15,000 1,000 2,000 5,000 7,000 88,000 35000 Additional information: Net income reported in 2020 was $ 7000 Dividends paid in 2020 was $ 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