Handout 6 Using the balance sheets and income statement below, prepare a statement of cash flows for 2021 using the indirect method. Cash Accounts receivable Supplies Inventory Equipment Less: Accumulated depreciation Total assets Accounts payable Uneamed Rent Common stock Retained earnings Total liabilities & stockholders' equity 2020 $ 8,000 12,000 2,000 14,000 50,000 (8,000) $78,000 2021 $15,000 18,000 4,000 11,000 56,000 (12.000) $92,000 $11,000 1,000 47,000 19.000 $78,000 $ 4,000 2,000 59,000 27,000 $92,000 Sales Cost of goods sold Gross margin Depreciation expense Other operating expenses Net income 2021 $ 90,000 57,000 33,000 4,000 20,000 $ 9,000