Cash Flow Statement Assignment-3 (1) (Protected View) - Word References Mailings Review View Help Tell me what you want to do The following are accounting items taken from the records of the Biden Company for 2020 $40,000 $48.000 $62,000 $19,200 $40,000 $136,000 $128,000 $46,400 Cash payment to stockholders as dividends Decrease in accounts payable Decrease in accounts receivable Increase in inventories Increase in salaries payable Net income for 2020 Cash payment for purchasing land and building Cash payment for reducing long-term notes payable (principal payment: $44,000; interest expense and payment: $2,400) Cash received from issuance of ten-year bonds payable at par value Depreciation expense Amortization expense Cash received from sale of patent rights Gain on the sale of patent rights Purchase equipment by issuing long-term notes Cash (at the beginning of 2020) $160,000 $24,000 7,000 $64,000 12,000 $70,000 S560,000 Required: Prepare the Statement of Cash Flows for Biden Company for 2020 using the indirect method You are required to use Excel (including Excel functions) to complete the assignment a