Direeu'nns: Using the information below and the template on the next tab, prepare a statement of cash Elows (indirect method). Also using the template on the next tab, compute itee cash ow. Respond to the anlaysis question at the bottom ofthe template using the information prepared in A) and 3). Helpful tip: If you need a refresher on how to complete this project, watch M2 Part 2: Example from Professor C. and the recording ofthe M2 discussion sessions Where these topics are coveredf We Rally Love Cash, Co. We Really Love Cash, Co. Comparative Balance Sheet Income Statmlent December 31 For the Year ended December 31, 2020 2020 2019 Sales revenue $127,900 Assets Cost ofgoods sold 69,800 Cash $6,200 $4,300 Gross prot 58,100 Accounts Receivable 5,200 5,500 Operating expenses 46,900 Inventory 30,000 34,200 Income Etom before gain and taxes 11,200 Property, plant 51 equipment, net 211,500 215,300 Gain on sale of equipmmt 900 T otal A: s ets $252,900 $259 Income tax expense 300 Net income $11 300 Liabilities and Stockholders' Equity Accounts payable $1,?00 $5,900 Accrued expenses 2,000 2,200 Taxes payable 2,500 2,600 Bonds payable 60,000 50,000 Total liabilities 66,200 60,?00 Common stock 125,000 125,000 Retained emiings 61 7'00 T1600 Total Stockholders' Equity 136,? 00 193,600 Total Liabilities and Stockholders' Equity $252 900 $259 2!! Additional data: 1. Depreciation expense of $1,900 is included in the Operating Expenses on the Income Statanent. 2. Equipment with an original cost of$35,000 was sold for $20,300. The gain on sale was $900. 3. On june 1, 2020, the company puzchas ed new equipment for cash at a cost of$17,500. 4-. The comp any paid $23,200 in cash didends for. the year.