Prepare cash flow statement using Indirect method 15 Marks 2019 (in$) Balance sheet as on 31st 2020 (in $) Dec. 2019 Assets Cash 8000 5000 Accounts receivable 15000 12000 Inventory 30000 33000 Net equipment 24000 20000 Total Assets 77000 70000 Liabilities and equity Accounts payable 21000 17000 Accrued Liabilities 4000 5000 Common shares 35000 30000 Retained earnings 17000 18000 Total liabilities and 77000 70000 equity Income statement Sales 140,000 Cost of goods sold 30,000 Gross profit 1,10,000 Operating expenses 80,000 Depreciation-expense 10,000 Loss on sale of 5000 95,000 equipment Net income 15000 Additional Information 1 Proceeds on sale of machinery= 3,000 2. Loss on sale of machinery-$5000 3. Purchased equipment costing 22000 by paying 17000 cash and remaining as accounts payable (Hint: Total Accounts payable 9000) 4. Paid cash dividend of 21000 (Financing activities)