The following is a condensed version of the comparative balance sheets for Horizontal Corporation for the last two years at December 31. Cash Accounts receivable Inventories Prepaid Expenses Investments Equipment Accumulated Depreciation Equipment Accounts Payable Accrued Expenses Bonds Payable Common stock Retained earnings 2020 954,830 275,000 228,245 85,000 115,000 305,000 (180,000) 225,250 347,000 575,000 215,000 556,000 2019 434,000 315,000 195,000 62,000 150,000 475,000 (245,000) 249,175 335,000 465,000 165,000 492,000 Additional information: Cash dividends paid were $66,000; and net income was $315,000. Equipment was sold for a gain of $5,000, cash received was $65,000. Depreciation expense was 45,000. Prepare the Statement of Cash Flows for Horizontal Corporation the year ended 2020. Scanned with CamScanner