I need the indirect method (cash flow statement

+ 6 Prepare the Statement of Cash Flows for Rich Corp using the Direct method. 7 8 Prepare the statement of Operating Activities section of the Statement of Cash Flows for Rich Corp using the Indirect method. 9 10 Rich Corp 11 Income Statement 12 EYE 12/31/20 13 14 Revenues 3,560,000 15 Cost of Goods Sold (1,860,000) 16 Operating Expenses (884,000) 17 Interest Expense (48,000) 18 Loss on sale of equipment (8,000) (2,800,000) 19 Income before income taxes 760,000 20 Income tax expense (260,000) 21 Net Income 500.000 22 23 Additional Information relating to 2020 activities: 24 Cash dividends of $220,000 were declared and paid 25 Equipment costing $164,000 and having a carrying value of $144,000, was sold for $136,000 cash 26 Equipment with a cost of $664,000 was purchased for cash 27 Operating expenses include depreciation expense of $132,000 and amortization of prepaid expenses of $8,000 28 Land was sold at its book value for cash 180,000 29 Interest expense of $48,000 was paid in cash 30 Common stock was issued for cash 31 Inventory was purchased on credit 32 Assume operating expenses are paid in cash 33 62 63 64 65 66 INDIRECT METHOD 67 12/31/19 Debits Credits 12/31/20 68 69 Cash 70 Accounts Receivable 71 Inventory 72 Prepaid Insurance 73 Land 74 Buildings 75 Equipment 76 77 78 Accumulated Depreciation, Buildings 79 Accumulated Depreciation, Equipment 80 Accounts Payable 81 Bonds Payable 82 Common Stock ($1 par) 83 Retained Earnings 84 85 148,000 104,000 0 24,000 280,000 800,000 272,000 1,628,000 100,000 216,000 272,000 216,000 16,000 180,000 800,000 772,000 2,472,000 28,000 28,000 44,000 40,000 160,000 600,000 240,000 544,000 1,628,000 84,000 112,000 132,000 440,000 880,000 824,000 2,472,000 220,000 500,000