Waterways prepared the balance sheet and income statement for the irrigation installation division for 2020. Now the company also needs to prepare a statement of cash flows for the same division. The comparative balance sheets for Waterways Corporations Irrigation Installation Division for the years 2019 and 2020 and the income statement for the year 2020 are presented below.

Additional information:

1.		Waterways sold a company vehicle for $24,100. The vehicle had been used for 10 years. It cost $79,700 when purchased and had a 10-year life and a $6,000 salvage value. Straight-line depreciation was used.
2.		Waterways purchased with cash new equipment costing $209,900.
3.		Prepaid expenses increased by $34,000. All changes in accounts payable relate to inventory purchases.

(a) Prepare a statement of cash flows using the indirect method for the year 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

WATERWAYS CORPORATION-INSTALLATION DIVISION Balance Sheets Assets 2020 2019 Current assets Cash Accounts receivable Work in process Inventory Prepaid expenses $840,300 680,300 704,300 16,600 76,400 2,317,900 $741,700 544,600 7,600 42,400 ,335 30O Total current assets Property, plant, and equipment Land Buildings Equipment Furnishings Accumulated depreciation 301,000 451,000 795,100 40,500 (481.000) 1,106,600 $3,549,700 $2,442,900 301,000 451,000 925,300 40,500 (486,000) 1,231,800 Total property, plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable $157,300 100,700 4,500 1,200 14,300 15,100 293,100 $128,800 80,100 2,000 taxes payable Wages payable Interest payable Other current liabilities Revolving bank loan payable 15,100 Total current liabilities 226,000 Long-term liabilities Note payable 143,000 Total liabilities 436,100 25 226,000 Stockholders' equity Common stock 1,250,000 1,250,000 966.900 2,216,900 $3,549,700 $2,442,900 Retained earnings 1,863,600 Total stockholders equity Total liabilties and stockholders' equity WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statement For the Year Ending December 31, 2020 Sales Less: Cost of goods sold Gross profit Operating expenses $5,536,300 3,124,300 2,412,000 Advertising Insurance Salaries and wages Depreciation Other operating expenses $50,100 400,400 586,400 78,700 21,200 Total operating expenses Income from operations Other income 1,136,800 1,275,200 Gain on sale of equipment Other expenses 18,100 (12,300) Interest expense Net other income and expenses Income before income tax Income tax expense Net income 5,800 1,281,000 384,300 $896,700 (e) Detemi fraa cash Now for the yer 2020 (Entur negative amount using wither a negative sign preceding the mumber a.g 45 or parenthessa.g.(45)- Click if you would like to Show work for this