View Policies Current Attempt in Progress A comparative balance sheet for Concord Company appears below: CONCORD COMPANY Comparative Balance Sheet Assets Dec. 31, 2020 Dec. 31, 2019 Cash Accounts receivable $38,000 $13,000 22,000 15,000 Inventory Prepaid expenses Long-term investments 29,000 19,000 8,000 13,000 0 21,000 Equipment Accumulated depreciation-equipment Total assets 66,000 35,000 (24,000) (17,000) $139,000 $99,000 Liabilities and Stockholders' Equity Accounts payable $21,000 $9,000 Bonds payable 38,000 49,000 Common stock 44,000 25,000 Retained earnings 36,000 16,000 Total liabilities and stockholders' equity $139,000 $99,000 Additional information: 1. Net income for the year ending December 31, 2020 was $37,000. 2. 3. Cash dividends of $17,000 were declared and paid during the year. Long-term investments that had a cost of $21,000 were sold for $16,000. 4. Sales for 2020 were $122,000. Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) CONCORD COMPANY Statement of Cash Flows Adjustments to reconcile net income to Question 6 of 16 < -/20 E