Before we begin, please help me to see if I am on the right Track.

TIA

The balance sheet and income statement for Joe's Fish Hut are presented below:

Additional Information: 1. Property, Plant & Equipment During 2020, equipment was sold for a loss of $4,600. The cash proceeds from the sale totaled $54,400. 2. Retained Earnings Joe's Fish Hut declared and paid $6,000 in dividends in 2020.

Create the cash flow statement using the indirect method.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

Joe's Fish Hut Balance Sheet As at December 31 2020 2019 ASSETS Current Assets Cash $170,159 $51,400 Accounts receivable $22,400 $15,300 Merchandise inventory $24,600 $26,000 Total Current Assets $217,159 $92,700 Property, plant & equipment(1) $129,000 $188,000 Less: Accumulated depreciation $-26,400 $-23,800 TOTAL ASSETS $319,759 $256,900 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $29,600 $33,900 Notes payable-current portion $9,800 $9,800 Total Current Liabilities $39,400 $43,700 Notes payable-long-term portion $78,000 $41,000 TOTAL LIABILITIES $117,400 $84,700 Shareholders' Equity Common shares $85,000 $55,900 Retained earnings(2) $117,359 $116,300 TOTAL SHAREHOLDERS' EQUITY $202,359 $172,200 TOTAL LIABILITIES AND EQUITY $319,759 $256,900 Joe's Fish Hut Income Statement For the Year Ended December 31, 2020 Sales $129,000 COGS $83,850 Gross Profit $45,150 Operating Expenses Depreciation Expense $2,600 Other operating expenses $27,090 Total Operating Expenses $29,690 Operating Income $15,460 Other Income Loss on Sale of Equipment Net Income Before Tax $4,600 $10,860 $3,801 $7,059 Income Tax Net Income Joe's Fish Hut Cash Flow Statement For the Year Ended December 31, 2020 Cash Flow from Operating Activities Net Income 7059 Add: Depreciation 2600 Add: Loss on sale of equipment 4600 Change in Operating Assets and Liabilities Increase in Accounts Receivable -7100 Decrease in Merchandise Inventory 1400 Decrease in Accounts Payable 4300 Net Cash Provided (Used) by Operating Activities -1400 Cash Flow from Investing Activities Sale of equipment 59000 Net Cash Provided (Used) by Investing Activities 59000 Cash Flow from Financing Activities Issue of common shares -29100 Receipt of notes payable -37000 Payment of cash dividend 6000 Net Cash Provided (Used) by Financing Activities 13900 Net increase (decrease) in cash -118759 Cash at the beginning of the year 51400 Cash at the end of the year