Windsor, Inc reported the following information for 2019. Windsor, Inc. Comparative Balance Sheets December 31 Change Assets 2019 2018 Increase/Decrease Cash $71,520 $36,090 $35.430 Increase Accounts receivable 61,620 21,880 39,740 Increase Inventory 43.590 -0 43,590 Increase Prepaid expenses 6,000 3.970 2.030 Increase Land 55.410 69,500 14.090 Decrease Buildings 198,460 198.460 -0- Accumulated depreciation-buildings (21,195) (14.130) 7,065 Increase Equipment 181.930 68.220 113.710 Increase Accumulated depreciation equipment (27,795) (10,000) 17.795 Increase Totels $569,540 $373.990 Liabilities and Stockholders' Equity Accounts payable $42,720 $40.400 $2.320 Increase Accrued expenses payable 0 9,960 9,960 Decrease Bonds payable 100.600 150.970 50.370 Decrease Common stock (51 par 228,430 60,050 168,380. Increase Retained earnings 197,790 112,610 85.180 Increase Totals $569,540 $373.990 Windsor, Inc. Income Statement For the Year Ended December 31, 2019 Sales revenue $950,360 Cost of goods sold $470,390 Operating expenses 229,730 Interest expense 12.120 Loss on disposal of plant assets 1.980 714,220 Income before income taxes Income tax expense Net income 236.140 65.240 $170.900 Additional information: Windsor, Inc. Income Statement For the Year Ended December 31, 2019 Sales revenue $950.360 Cost of goods sold $470,390 Operating expenses 229,730 Interest expense 12.120 Loss on disposal of plant assets 1980 714,220 Income before income taxes Income tax expense Net income 236,140 65,240 $170.900 Additional information: N 1 Operating expenses include depreciation expense of $39.880. 2 Land was sold at its book value for cash. 3. Cash dividends of $85,720 were declared and paid in 2019. 4. Equipment with a cost of $165,070 was purchased for cash. Equipment with a cost of $51,360 and a book value of $36,340 was sold for $34,360 cash. 5. Bonds of $50,370 were redeemed at their face value for cash. 6. Common stock ($1 par) of $168,380 was issued for cash Use this information to prepare a statement of cash flows using the indirect method. Show amounts that der hflow with elthera Windsor, Inc Statement of Cash Flows-Indirect Method Austments to reconcile net income to 7 7 7 7 v