A comparative balance sheet for Carter Fuel Injection Systems, Inc. appears below: Carter Fuel Injection Systems, Inc. Comparative Balance Sheet Dec. 31, 2020 Dec. 31, 2019 Assets Cash $ 34,000 $11,000 Accounts receivable 25,000 13,000 Inventory 18,000 17,000 Prepaid expenses 11,000 9,000 Long-term investments -0- 17,000 Equipment 55,000 33,000 Accumulated depreciationequipment (20,000) (15,000) Total assets $123,000 $85,000 Liabilities and Stockholders' Equity Accounts payable $ 27,000 $ 7,000 Bonds payable 35,000 45,000 Common stock 31,000 23,000 Retained earnings 30,000 10,000 Total liabilities and stockholders' equity $123,000 $85,000 Additional information: 1. Net income for the year ending December 31, 2020 was $35,000. 2. Cash dividends of $15,000 were declared and paid during the year. 3. Long-term investments that had a cost of $17,000 were sold for $14,000. 4. No equipment was sold during 2020. HINT: depreciation expense must be determined. Notice in #4 it states no equipment was sold during 2020, therefore, focus on the change in accumulated depreciation.

Instructions

Prepare only the Cash Flow from Operating Activities section.