Skysong, Inc.'s comparative balance sheets are presented below:

Additional information:

1.Net income was $18,450. Dividends declared and paid were $14,300.2.Equipment which cost $10,000and had accumulated depreciation of $2,100was sold for $3,600.3.No noncash investing and financing activities occurred during 2020.

assessment.education.wiley.com View Policies Current Attempt in Progress Skysong, |nc.'s comparative balance sheets are presented below: Skysong, Inc. Comparative Balance Sheets December 31 2020 2019 Cash $ 16,600 $ 17,500 Accounts receivable 25,200 22,100 Investments 20,050 15,850 Equipment 59,850 69,850 Accumulated depreciationequipment (14,150) (10,200) Total $107,550 $115,100 Accounts payable $ 14,350 $ 11,050 Bonds payable 10,000 30,200 Common stock 49,900 44,700 Retained earnings 33,300 29,150 Total $107,550 $115,100 Additional information: 1. Net income was $18,450. Dividends declared and paid were $14,300. 2. Equipment which cost $10,000 and had accumulated depreciation of $2,100 was sold for $3,600. 3. No noncash investing and nancing activities occurred during 2020. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000, or in parenthesis e.g. (45,000).) Skysong, Inc. Statement of Cash Flows assessment.education.wiley.com to $ Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash flow $ Save for Later Attempts: 0 of 1 used Submit Answer assessment.education.wiley.com Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000, or in parenthesis e.g. (45,000).) Skysong, Inc. Statement of Cash Flows Adjustments to reconcile net income to to