Planner Corporation' comparative balance sheets are presented below

Question 56 Planner Corporation's comparative balance sheets are presented below. PLANNER CORPORATION Comparative Balance Sheets December 31 2020 Cash $21,570 Accounts receivable 18,200 Land 18,000 Building 70,000 Accumulated depreciation (15,000) Total $112,770 Accounts payable $12,370 Common stock 75,000 Retained earnings 25,400 Total $112,770 2019 $10,700 23,400 26,000 70,000 (10,000) $120,100 $31,100 69,000 20,000 $210,100 Additional information: 1. Net income was $27,900. Dividends declared and paid were $22.500. 2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $5.900. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a sign eg.-15.000 or is parenthesise.g. (15.000).) PLANNER CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Adjustments to reconcile net income to