The income statement for the year ended December 31, 2020, for Cheyenne Manufacturing Company contains the following condensed information. $ 6,580,000 CHEYENNE CO. INCOME STATEMENT Revenues Operating expenses (excluding depreciation) $4.932,000 Depreciation expense 873.000 Income before income tax Income tax expense Net Income 5,805,000 775,000 310,000 465,000 $ Included in operating expenses is a $23,500 loss resulting from the sale of machinery for $292,500 cash. The company purchased machinery at a cost of $747,000. Cheyenne reports the following balances on its comparative balance sheets at December 31. CHEYENNE CO. COMPARATIVE BALANCE SHEETS (PARTIAL) 2020 2019 Cash $716,500 $128,000 Accounts receivable 773,000 601,000 Inventory 846,500 874,000 Accounts payable 522,500 506,500 Income tax expense of $310,000 represents the amount paid in 2020. Dividends declared and paid in 2020 totaled $190,000 Prepare the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signes. 15,000 or in parenthesis es (15,000) CHEYENNE COMPANY Statement of Cash Flows Adjustments to reconcile net income to > > >