Your answer is partially correct. Try again. The comparative balance sheets for Rothlisberger Company as of December 31 are presented below. ROTHLISBERGER COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par Retained earnings Total $57,000 40,000 148,000 13,500 95,000 196,000 (56,000) 228,000 (42,000) $679,500 $45,000 62,000 142,000 21,000 130,000 196,000 (30,000) 155,000 (35,000) $686,000 $46,000 260,000 187,000 186,500 $679,500 $39,000 290,000 157,000 200,000 $686,000 Additional information: Additional Information: 1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $7,500. 2. Land was sold for cash at book value. 3. Cash dividends of $57,500 were paid. 4. Net Income for 2020 was $44,000. 5. Equipment was purchased for $94,000 cash. In addition, equipment costing $21,000 with a book value of $12,000 was sold for $5,000 cash. 6. Bonds were converted at face value by issuing 30,000 shares of $1 par value common stock. Prepare a statement of cash flows for the year ended December 31, 2020, using the Indirect method. (Show allounts that decrease cash flow parenthesis c.9. (15,000).) ROTHLISBERGER COMPANY Statement of Cash Flows December 31, 2020 Cash Flows from Operating Activities Net Income 44,000 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 42,000 rense in Arints Receivable 22,000 ROTHLISBERGER COMPANY Statement of Cash Flows December 31, 2020 Cash Flows from Operating Activities Net Income 44,000 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense 42,000 > Decrease in Accounts Receivable 22,000 > Increase in Inventory (6,000) Decrease in Prepaid Expenses 7,500 > Increase in Accounts Payable 7.000 Sale of Equipment 7,000 79,500 Dale Increase in Accounts Payable 7,000 Sale of Equipment 7,000 79,500 X Cash Flows from Investing Activities 123,500 RRRRRRRR Cash at End of Period Sale of Land 35,000 Sale of Equipment 5000 Purchase of Equipment (94,000) Net Cash Used by Investing Activities (54,000) Cash Flows from Financing Activities Payment of Cash Dividends (57,500) Cash Flows from Financing Activities Payment of Cash Dividends (57,500) X Net Cash Used by Financing Activities (57,500) x Net Increase in Cash 12,000 x Cash at Beginning of Period 45,000 Cash at End of Period Net Income 57,000 Click if you would like to Show Work for this question: Qren Show Work