Prepare a statement of cash flows using the indirect method for the year 2020. Determine free cash flow for the year 2020.

Waterways prepared a balance sheet and income statement for the irrigation installation division for 2020. Now the company also needs to prepare a statement of cashflows for the same division. The comparative balance sheets for Waterways Corporation's Irrigation Installation Division for the years 2019 and 2020 and the income statement for the year 2020 is presented below.

Additional information:

1. Waterways sold a company vehicle for $23,800. The vehicle has been used for 10 years. It cost $80,800 when purchased and had a 10 year life and a $6,000 salvage value. Straight-line depreciation was used.

2. Waterways purchased with cash new equipment costing $210,300.

3. Prepaid expenses increased by $33,500. All changes in accounts payable relate to inventory purchases.

Warrant and income tatement the income van 200 who needs to prepare wanent of cash tom for the end on the price balance www Do for the years 2009 and 2020 and the income and for the 2020 we presented belon Additional formation We company w33.00. The wide home for 10 years to 80,000 when purchased and had 1 year it and 56,000 vagatur. Sed 2. Waterways piced with cashew curent conting 370,300 3. Prelepe med by $33,500. Al changes in parte inventory purchase WATERWAYS CORPORATION-INSTALLATION DIVISION Balance Sheets December 31 Assets 2010 2010 Current at Ch 26.400 149.00 Accounts recevable 651,300 541.200 697.700 Inventory 16.900 7,400 Pred 7.100 43,600 Talent 2.100,00 15,000 Property and equipment Land 300,000 300.000 Bullinge 452,000 453,000 Frent 237,100 7.000 Puhe 40,000 Accued rection (45.2001 (407001 Total property, plant and en 1.246 1.122250 Total .. 463200 and tackholders' quity Current Accounts 17.00 5128.200 Income tax payable 101.200 500 Wages par 4.500 1.000 To pay 1.200 Our current 14.500 15.400 Revolving bank loan payable 15.100 Tolerabates 225/60 Long termes Notepayable 39.000 Todab 223.000 Society Carmen 1,250.000 1.250,000 Retained earrings 1,663,500 68,200 Total stockhodity 3.113,500 13.546600 52.6.200 0.100 WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statement For the Year Ending December 31, 2020 Sales $5,503,729 Less: Cost of goods sold 3,115,900 Gross profit 2,387,829 Operating expenses Advertising $50,300 Insurance 403,100 Salaries and wages 588,200 Depreciation 80,300 Other operating expenses 21,000 Total operating expenses 1,142,900 Income from operations 1,244,929 Other Income Gain on sale of equipment 17,800 Other expenses Interest expense (12,300) Net other income and expenses 5,500 Income before income tax 1,250,429 Income tax expense 375,129 Net Income $875,300 (4) Free statement of cashows in the direct mettod for the vow 2020 (show amounts al decrew can now with news 15.000 ur in parents (18.000)) WATERWAYS CORPORATION-Installation Division statement of Cash Flowe-indirect Method Mesto recentem nome to (e) Determine tree cash flow for the year 2000. (Enter negative amount ingether a negative in preceding the number -15 or parte (45))