Calex Inc. reported the following comparative balance sheets Balance Sheets Dec.31,2019 Dec. 31, 2020 Cash and cash equivalents $ 4,000 $10,750 Accounts receivable. 3,000 2,000 15,000 Equipment Accumulated depreciation 10,000 (1,000) (2,000) $16,000 $25,750 Total assets. . $ 1,000 $ 2,000 Salaries payable. . Long-term notes payable Capital stock. . Retained earnings 5,000 8,000 5,000 8,000 2,000 10,750 Total liabilities and stockholders' equity $16,000 $25,750 Additional information 1. Net income for the current year was $9,750. No disposals of equipment took place during the year. 2. Required Prepare the statement of cash flows for Calex for the year ended December 31, 2020, using the indirect method to report cash flows from operating activities