D Question 1 A comparative balance sheet for Praise Cmpany appears below: PRAISE COMPANY Comparative Balance Sheet Assets Dec. 31, 2020 Dec. 31, 2019 Cash $ 27,000 $10,000 Accounts receivable 19,000 14,000 Inventory 25,000 18,000 Prepaid expenses Long-term investments -0- Equipment 6,000 9,000 18,000 60,000 32,000 Canvas Equipment Accumulated depreciation- equipment Total assets Liabilities and Stockholders' 60,000 32,000 (20,000) (14,000) $117,000 $87,000 Equity Accounts payable $ 16,000 $ 7,000 Bonds payable 38,000 47,000 Common stock 41,000 23,000 Retained earnings 22,000 10,000 Total liabilities and stockholders' $117,000 $87,000 equity Additional information: Additional Information: 1. Net income for the year ending December 31, 2020 was $27,000. 2. Dividends -- Calculate the amount. 3. Long-term investments that had a cost of $18,000 were sold for $14,000. 4. Gain or Loss - Calculate the amount. 5. Depreciation Expense - Calculate the amount. 6. Sales for 2020 were $140,000. Requirement: Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Omit C Heading) Edit Format Table 12pt v Paragraph v BIUAT |||