VIRTUAL COMPANY Comparative Balance Sheets December 31, 2020 and 2819 2026 2019 Assets $ 34,500 10,8 134.10 $ 34,900 12,400 71,700 119,0 (15.) $145, (22.400) $161,300 Accounts receivable, net Inventory Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Salaries payable Total current liabilities Equity Common stock, no par value Retained earnings Total liabilities and equity $ 23,00 ba $ 25,00 50 25, 117,160 20,80 $161,300 188,50 10,0 $145, Bee VIRTUAL COMPANY Income Statement For Year Ended December 31, 2020 Sales $ 39, see Cost of goods sold (16,400) Gross profit Operating expenses Depreciation expense $ 0.00 Other sponses 4,00 Total operating expense Income before takes 11,50 2. Net Income 9,120 Additional Information ..No dividends are declared or paid in 2020. b. lasued additional stock for $8.500 cash in 2020. c. Purchased equipment for cash in 2020; no equipment was sold in 2020. Required: Use the sbove financial statements and additional Information to prepare a statement of cash flows for the year ended December 31, 2020, using the Indirect method. (Amounts to be deducted should be Indicated by a minus sign.) VIRTUAL COMPANY Statement of Cash Flow (Indirect Method) For Year Ended December 31, 2020 Not Income Adjustments to reconcile net income to not cash provided by operations: Income statement tems not affecting cash Changes in current operating assets and abilities