The following information is provided for the Loofa Corporation. Balance Sheets December 31, 20XX December 31, 20XW Assets Cash $57,345 $21,845 Accounts receivable 43,690 49,150 Inventory 114,685 98,300 Equipment 101,035 81,920 Less: Accumulated depreciation 24,575 16,385 Net equipment 76,460 65,535 Total assets $292,180 $234,830 Liabilities and Equity Accounts payable Taxes payable Common stock Retained earnings Total liabilities and equity I $46,420 $27,305 5,465 10,920 180,220 163,835 60,075 32,770 $292,180 $234,830 During 20XX, the following occurred: 1. Net income was $54,610. 2. Equipment was purchased for cash, and no equipment was sold. 3. Shares were sold for cash. 4. Dividends were declared and paid. a. Prepare a statement of cash flows for the Loofa Corporation. (Amounts to be deducted should be indicated with a minus sign. Check m