oft Word - final 21** **+ 7.3.5 Aa A. 69 Case one: 20p. The comparative statement of financial position and income statement for BINAR Company presented below. BINAR Co. Comparative Statement of Financial Position 2020 2019 Assets land 50000 50000 Equipment 240.000 232,000 Accumulated Depreciation (118,000) (109,000) Prepaid rent 10,000 9,000 Merchandise Inventory 52.000 46,000 Accounts Receivables 130,000 114.000 Cash 49,000 40,000 Equity and Liabilities Share Capital-Ordinary 233,000 220,000 Retained Earnings 30,000 7,000 Ntoess Payable 120,000 130,000 Accrued Expense Payable 5,000 9.000 Income Tax Payable 7,000 5,000 Accounts Payable 18,000 11,000 Total 393,000 362,000 Solar System Co. Income Statement For the year ended December 31, 2020 Net Sales 1,339,000 Cost of Goods Sold 908,000 N a hp + ortse % 5 6 & 7 8 9 O TY 1 O x YI VE 7 G Hi . DU00 7.000 Ntoess Payable 120,000 130,000 Accrued Expense Payable 5.000 9,000 Income Tax Payable 7,000 5,000 Accounts Payable 18.000 11,000 Total 393,000 362,000 Solar System Co. Income Statement For the year ended December 31, 2020 Net Sales 1,339,000 Cost of Goods Sold 908,000 Gross Profit 431,000 Less Operating Expense 346,000 Depreciation Expense 24.000 Interest Expense 14.000 Gain on Equipment Sold 3,000 Income before tax 50,000 Income Tax 12.000 Net Income 38.000 Dividends declared and paid $15.000 Additional Information: 1. Equipment with a cost of $24,000 and accumulated depreciation $15,000 was sold for $12,000, and additional equipment was purchased for cash. 2. Notes s redeemed for cash. 3. Additional ordinary shares issued for cash. Instructions Prepare a statement of cash flow using Indirect Method a