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ACC 330 Corporation's comparative balance sheets are presented below. The company had net income of $10,900...

ACC 330 Corporation's comparative balance sheets are presented below. The company had net income of $10,900 for the year and paid dividends of $15,500. ACC 330 CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash $ 11,570 $ 10,700 Accounts receivable 18,200 22,400 Land 18,000 27,000 Building 80,000 70,000 Accumulated depreciation (25,000) (10,000) Total $102,770 $120,100 Accounts payable $ 12,370 $31,100 Common stock 75,000 69,000 Retained earnings 15,400 20,000 Total $102,770 $120,100 REQUIRED: (a) Prepare a statement of cash flows for 2020 using the indirect method.

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Cash flow statement is a financial statements that summarises the cash and cash equivalents portion during the year.

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