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The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented below. Donny's net income for 2020 was $203,000 Depreciation

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The current sections of Donny Inc.'s balance sheets at December 31, 2019 and 2020, are presented below. Donny's net income for 2020 was $203,000 Depreciation expense was $25,000 2020 2019 Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets $ 115,000 105,000 154,000 27 000 $ 401,000 $ 99,000 89,000 172,000 21,000 $ 381,000 Current Liabilities: Accrued Expenses Payable Accounts Payable Total Curent Liabilities $ 15,000 85,000 $ 100,000 $ 5,000 93.000 $ 98,000 Net cash inflows from operating activities are $226,000 O True O False

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