Use the income statement and balance sheet to create a cash flow statement.

** The company paid dividends of $4,250 during 2020.

2020 2019 Olive Corporation Halance Sheet As of December 31, Asses: Cash and cash equivalents Accounts Receivable Inventory Current Assets $41.900 24.000 20.000 95.900 525.000 6.250 16.00 67.250 Equipment Less: Accumulated depreciation Land 42.000 -14.000 25.000 38,500 -7,000 10,000 Total assets $148.900 $108,750 Liabilities Accounts Payable Accrued Salaries Payable Rent Expense Payable Income Tax Payable Current Liabilities $17.500 5.500 2.200 6.900 32.100 $22,500 8.000 1.000 4.000 35,500 Long-term note payable Total Liabilities 50 000 82.100 30,000 65,500 Stockholders' Equity Common stock Retained earnings 42.000 24.800 30,000 13.250 Total liabilities and stockholders' equity S148.900 $108,750 Halvar Corporation Income Statement For the year ended December 31, 2020 Revenues Cost of goods sold Gross Profit $147,0001 -84,000 563.000 Operating Expenses Depreciation expense Salary expense Insurance Expense Rent Expense Interest Expense Total Operating Expenses -7,000 - 14,600 -2,500 -10,000 -4.200 8.100 Income from Operations Income Tax Expense 24,700 -6.900 Net income $12.00