A comparative balance sheet for Concord Corporation is presented below: CONCORD CORPORATION Comparative Balance Sheet Assets 2020 2019 Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Total assets $41,100 $32,700 72,550 61,700 27,550 18,700 19,700 47,650 71,700 61,700 (22,550) (14,700) $210,050 $207,750 Liabilities and Stockholders' Equity Accounts payable $13,550 $7,700 Bonds payable 28,700 20,700 Common stock 145,100 116,700 Retained earnings 22,700 62,650 Total liabilities and stockholders' equity $210,050 $207,750 Additional information: 1. Net loss for 2020 is $24,250. 2. Cash dividends of $15,700 were declared and paid in 2020. 3. Land was sold for cash at a loss of $5,700. This was the only land transaction during the year. 4. Equipment with a cost of $18,400 and accumulated depreciation of $11,700 was sold for $6,700 cash. 5. $23,700 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $28,400. Prepare a statement of cash flows for the year ended 2020, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) Adjustments to reconcile net income to CONCORD CORPORATION Statement of Cash Flows $ $