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4) The comparative balance sheets and income statement for DwellSmith Company are presented below: [20] DwellSmith Company Comparative Balance Sheet For the Year Ended December 31, 2020 Cash Accounts receivable Inventory Prepaid rent Land Fixed assets Accumulated depreciation Patent Total assets Accounts payable Wages payable Interest payable Taxes payable Bonds payable, due 2020 Common stock Retained earnings Total liabilities and Stockholders' equity December 31, 2019 $16,300 27,900 53,900 1,800 22,000 118,000 (39,000) 11.000 $211.900 21,100 5,700 400 7.900 36,000 32,000 108.800 December 31, 2020 $19,900 36,300 48,200 2,000 32,000 130,000 (46,000) 12.000 $234.400 27.700 6200 1600 6.800 44,000 35,000 113, 100 $2119.00 $23.1.400 DwellSmith Company Income Statement For the Year Ended December 31, 2020 $586,000 Sales Cost of goods sold Depreciation expense Amortization expense Wage expense Rent expense Loss on sale of fixed assets Interest expense Income tax expense Total expenses Net Income 311,000 14,000 3,000 88,000 24,000 2,600 4,900 56.000 503,500 $82.500 Required: Prepare a statement of cash flows using the indirect method for the year ended December 31, 2020. No land was sold in 2020. Land was purchased using bonds payable for $8,000 and cash for $2,000. A fixed asset was sold in 2020 for $4,100. Purchases of fixed assets and patents were for cash

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