The following are Waterway Corp.'s comparative balance sheet accounts at December 31, 2020 and 2019, with a column showing the increase (decrease) from 2019 to 2020. COMPARATIVE BALANCE SHEETS Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Investment in Myers Co. Loan receivable Total assets 2020 $808,400 1,117,000 1,861,000 3,286,500 (1,153,400) 312,100 247,900 $6,479,500 2019 $703,500 1,168,800 1,731,000 2,949,500 (1,039,600 ) 272,900 Increase (Decrease) $104,900 (51,800 ) 130,000 337,000 (113,800) 39,200 247,900 $693,400 $5,786,100 $954,200 49,700 99,500 $53,100 (20,000) (20,300) 396,700 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 $1,007,300 29,700 79,200 396,700 500,000 1,485,200 2,981,400 $6,479,500 500,000 1,485,200 2,697,500 $5,786,100 283,900 $693,400 Additional information: 1. On December 31, 2019, Waterway acquired 25% of Myers Co.'s common stock for $272,900. On that date, the carrying value of Myers's assets and liabilities, which approximated their fair values, was $1,091,600. Myers reported income of $156,800 for the year ended December 31, 2020. No dividend was paid on Myers's common stock during the year. 2. During 2020, Waterway loaned $296,700 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $48,800, plus interest at 10%, on December 31, 2020. 3. On January 2, 2020, Waterway sold equipment costing $59,700, with a carrying amount of $37,600, for $40,300 cash. 4. On December 31, 2020, Waterway entered into a capital lease for an office building. The present value of the annual rental payments is $396,700, which equals the fair value of the building. Waterway made the first rental payment of $59,600 when due on January 2, 2021. 5. Net income for 2020 was $363,100. 6. Waterway declared and paid the following cash dividends for 2020 and 2019. Declared Paid Amount 2020 December 15, 2020 February 28, 2021 $79,200 2019 December 15, 2019 February 28, 2020 $99,500 Prepare a statement of cash flows for Waterway Corp. for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) WATERWAY CORP. Statement of Cash Flows Adjustments to reconcile net income to |||