URCES The following are the financial statements of Nosker Company. ed NOSKER COMPANY Comparative Balance Sheets December 31 Video) Assets (Video) aission) 2020 2019 Cash $34,350 32,600 $19,600 Accounts receivable 18,600 Study Inventory 26,350 20,750 Equipment 59,250 77,800 Accumulated depreciation-equipment (29,700) $122,850 (23,400) $113,350 Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable $28,150 $ 16,850 7,050 8,350 Bonds payable 27,700 33,950 17,200 13,850 Common stock 42,750 40,350 Retained earnings $113,350 $122,850 Total NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 $241,900 Sales revenue 175,950 Cost of goods sold 65 950. Gross nrofit CALCLATO PRINTER VERSION BACK NEXT NOSKER COMPANY Income Statement For the Year Ended December 31, 2020 Sales revenue $241,900 Cost of goods sold 175,950 Gross profit 65,950 Operating expenses Income from operations 24,000 41,950 Interest expense 3,300 Income before income taxes 38,650 Income tax expense 8,450 Net income $30,200 Additional data: 1. Dividends declared and paid were $27,800. 2. During the year, equipment was sold for $7,650 cash. This equipment cost $18,550 originally and had a book value of $7,650 at the time of sale. 3. All depreciation expense, $17,200, is in the operating expenses. 4. All sales and purchases are on account. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parentheals e.g. (45,000).) NOSKER COMPANY Statement of Cash Flows