Question 2 of 4 -1/2 E View Policies Current Attempt in Progress The following is a condensed version of the comparative balance sheets for Pharoah Corporation for the last two years at December 31. 2020 2019 Cash $ 309,750 $ 136,500 Accounts receivable 315,000 323,750 Investments 91,000 129,500 Equipment 521,500 420.000 Accumulated Depreciation-Equipment (185,500) (155,750) Current liabilities 234,500 264,250 Common stock 280,000 280,000 Retained earnings 537.250 309,750 Additional information: Investments were sold at a loss of $17,500; no equipment was sold; cash dividends paid were $52,500; and net income was $280,000. (a) Prepare a statement of cash flows for 2020 for Pharoah Corporation. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) PHAROAH CORPORATION Statement of Cash Flows