prepare statement of cash flow using indirect method for Dec 31,2019

on WALLACE LIMITED Comparative Statements of Financial Position December 31, 2019 Cash... Accounts receivable. Merchandise inventory... Property, plant and equipment. Accumulated depreciation.......... Total......... Assets 2019 2018 $ 59,000 $ 23,000 29,000 34.000 20,000 15,000 50,000 78,000 (20.000) _(24.000 $138.000 $126,000 Liabilities and Shareholders' Equity $ 14,000 Accounts payable....... Income tax payable. Mortgage payable...... 12,000 $ 23,000 8,000 33,000 9,000 Common shares.......... 39,000 24,000 etained earnings......... 64,000 38.000 WALLACE LIMITED Income Statement Year Ended December 31, 2019 Sales $390,000 290.000 Cost of goods sold. Gross profit. Operating expenses. 100,000 46,000 Interest expense... 4.000 Profit before income tax... Income tax expense.. 50,000 10.000 $ 40.000 Profit...... Additional information regarding fiscal 2019: 1. Dividends declared and paid were $14,000. 2. During the year, equipment was sold for $12,000 cash. This equipment cost $28,000 originally and had a carrying amount 12.000 at the time of sale. Depreciation expense of 11.000 is included in operating expenses. All sales and purchases are on account. Arrinte navalle nortain tn marchandise sunpliers