year 2020 are as follows. CULLUMBER INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1.2020 Inc./Dec. Assets Cash $ 46,260 $ 14,260 $32,000 Inc. Accounts receivable 94.980 90,720 4,260 Inc. 42,980 24,720 18,260 Inc. Equipment Less: Accumulated Depreciation Equipment 20,980 11,000 9.980 Inc. Total $163.240 $118,700 $ 23,980 $17.720 6,260 Inc Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total 101,260 82,720 18,540 Inc. 38,000 18,260 19.740 Inc $163,240 $118,700 Net income of $47,980 was reported and dividends of $28,240 were paid in 2020. New equipment was purchased and none was sol Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a signeg. -15,000 or in parenthesis eg. (15,000).) Net income of $47,980 was reported and dividends of $28 240 were paid in 2020.New equipment was purchased and none was sold. Prepare a statement of cash flows for the year 2020. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis es. (15,000 CULLUMBER INC. Statement of Cash Flows For the Year Ended December 312020 Cash Flow from Operating Activities Net Income 47.900 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expeme $ Increase in Accounts Receivable V Increase in Accounts Payable NetCash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment Cash flows from Financing Activities Tosuance of Common Stock Payment of Cash Dividends V Net Cach Used by Financing Activities Net Increase in Cash Cash at Beginning of Year >> Cast End of Year