The following are Tamarisk Corps comparative balance sheet accounts at December 31, 2020 and 2019, with a column showing the increase (decrease) from 2019 to 2020. COMPARATIVE BALANCE SHEETS 2019 Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co Loan receivable Total assets 2020 $812,300 1,123,700 1,850,100 3,298,900 (1.175,800) 308,800 251,300 $6,469,300 $694,700 1,172,300 1.716,300 2,970,600 (1,034,000) 275,100 Increase (Decrease) $117,600 (48,600) 133,800 328,300 (141,800) 33,700 251.300 $674,300 $5,795,000 $963.000 50.000 100,500 Accounts payable Income taxes payable Dividends payable Lease liability Common stock. $1 par Paid-in capital in excess of par-common stock Retained earnings Total liabilities and stockholders' equity $1,006,500 29.900 80,800 387.800 500,000 1.498,200 2,966,100 $6,469,300 $43,500 (20,100) (19,700) 387,800 500,000 1,498,200 2,683,300 $5.795,000 282.800 $674,300 Additional information: 1. 2. 3. On December 31, 2019. Tamarisk acquired 25% of Myers Cols common stock for $275,100. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1.100,400. Myers reported income of $134,800 for the year ended December 31, 2020. No dividend was paid on Myers's common stock during the year. During 2020, Tamarisk loaned $288,300 to TLC CO., an unrelated company. TLC made the first semiannual principal repayment of $37.000, plus interest at 10%, on December 31, 2020. On January 2, 2020, Tamarisk sold equipment costing $59,500, with a carrying amount of $38,000, for $40.000 cash. On December 31, 2020. Tamarisk entered into a capital lease for an office building. The present value of the annual rental payments is $387,800, which equals the fair value of the building. Tamarisk made the first rental payment of $60,600 when due on January 2, 2021 Net income for 2020 was $363,600. Tamarisk declared and paid the following cash dividends for 2020 and 2019. 4. 5. 6. Declared 2020 December 15, 2020 February 28, 2021 $80,800 2019 December 15, 2019 February 28, 2020 $100,500 Paid Amount Prepare a statement of cash flows for Tamarisk Corp. for the year ended December 31, 2020, using the Indirect method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g- (15,000.) TAMARISK CORP. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 363.600 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation $ I Gain on Sale of Equipment Equity in Earnings of Myers Co. Increase in Inventory increase in Accounts Payable Decrease in Income Taxes Payable Decrease in Accounts Receivable Net Cash Provided by Operating Activities E Net Cash Provided by Operating Activities Cash Flows from Investing Activities Proceeds from Sale of Equipment Loan to TLC Co. Principal Payment of Loan Receivable Net Cash Used by Investing Activities Cash Flows from Financing Activities Dividends Paid Net Cash Used by Financing Activities Net Increase in Cash Cash January 1, 2020 Cash, December 31, 2020 $ Noncash Investing and Financing Activities Issuance of Capital Lease Liability for Office Building