End Time: 07:51 PM / Remaining! 89 min. CES Question 6 The comparative balance sheets for Sarasota Corporation show the following information. December 31 2020 2019 Cash $33,700 $13,200 Accounts receivable 12,300 9,900 Inventory 12,200 9,100 Available-for-sale debt investments 3,000 Buildings -0 30,000 Equipment 44,600 20,200 Patents 5,100 6,400 $107.900 $91,800 $4,600 4,400 5,900 3.000 Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,100 2,000 -0- 5.100 -0- 2,900 31,000 43,000 20,800 $107,900 4,900 4,100 25,000 33,000 6,900 $91,800 Additional data related to 2020 are as follows. ady 1. Equipment that had cost $11,100 and was 40% depreciated at time of disposal was sold for $2,500. 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $4,900. 4. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,000 (net of $2,000 taxes). 5. Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $2,000 and income taxes of $6,500 were paid in cash. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15.000 or in parenthesis e be here to search