The following are the financial statements of Delight Company. Prepare the statement of cash flows (indirect or direct method your choice)

The following are the financial statements of Delight Company. Prepare the statement of cash flows (indirect or direct method - your choice). - DELIGHT COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment $36,100 32,800 30,500 60,000 (29,200) $19,800 19,500 21,000 77,600 (23,600 Total $130,200 $114,300 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28,200 7,400 26,000 18,400 50,200 $130,200 $ 16,200 8,300 33,100 13,400 43,300 $114,300 DELIGHT COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $242,100 176,800 65,300 23,300 42,000 2,400 39,600 7,100 $32,500 Additional data: 1. During the year, equipment was sold for $9,100 cash. This equipment cost $17,600 originally and had a book value of $9,100 at the time of sale 2. Depreciation expense is $14,100 3. Be sure to analyze the remaining long-term accounts