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CHENG INC. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment 2020 $119,400 92,500 112,600 29,100 140,600 264,200 2019 $47,400 32,000 102,600 25,300 114,700 243,000 (46,400) (51,600) $712,000$513,400 Total Liabilities and Stockholders Equity Accounts payable Accrued expenses payablee Bonds payable Common stock Retained earnings $68,000 17,500 149,100 175,100 103,700 $712,000$513,400 $111,700 16,300 115,300 220,000 248,700 Total

CHENG INC. Income Statement For the Year Ended December 31, 2020 Sales revenue $391,900 Less: Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Loss on disposal of plant assets $135,000 11,200 33,200 27,600 4,300 7,500 218,800 $173,100 Net income Additional information: 1. New equipment costing $79,900 was purchased for cash during the year 2. Old equipment having an original cost of $58,700 was sold for $12,800 cash 3. Bonds matured and were paid off at face value for cash 4. A cash dividend of $28,100 was declared and paid during the year Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g (15,000).)

CHENG INC. Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivable Increase in Inventory Increase in Prepaid Expenses Increase in Accounts Payable

CALCULATOR MESSAGE Decreas e in Accrued Expenses ayable V Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Investments Sale of Plant Assets Purchase of Plant Assets Net Cash Used by Investing Activities Cash Flows from Financing Activities

Help me solve. Prepare a statement of cash flows using the indirect method. Need help solving for the answers in the red highlighted blanks.

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