PROBLEMS 9. (16 points) Newman Corporation's comparative balance sheets are presented below Newman Corporation Comparative Balance Sheet December 31 2919 Assets Cash Accounts receivable Investments (long-term) Equipment Accumulated depreciation Total Assets 2029 $15.200 25,200 20.000 60.000 (14.000) S106,400 $17.700 22.300 16.000 70.000 (10.000 ST16.000 Liabilities & Stockholder Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Liabilities & Stockholder Equity $14,600 10.000 50,000 31.800 S106,400 511100 30.000 15.000 29.900 S116.000 Additional information: 1. Net income was $18,300. Dividends declared and paid were $16.400 2. Equipment which cost $10,000 and had accumulated depreciation of $1.200 was sold for $3,300. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation Instruction Prepare a statement of cash flows for 2020 using the indirect method