Blake Weaver, Cook Enterprises' controller, is preparing the financial statements for 2013. He has completed the comparative balance sheets and income statement, which follow, and has gathered this additional information:

• On December 31, 2013, Cook sold a piece of equipment with an original cost of $25,000 for $30,000 cash. The equipment had a book value of $13,000.

• On February 1, 2013, Cook issued $100,000 of common stock to raise cash in anticipation of the purchase of a new building later in the year.

• On February 2, 2013, Cook took out a ten-year $75,000 long-term loan to provide the remaining funds needed to purchase the building.

• On May 15, 2013, Cook paid $150,000 for the new building.

• The company repaid $4,600 of the long-term debt before the end of the year.

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Required
Using the direct method, prepare Cook Enterprises' statement of cash flows for2013.

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Cook Enterprises Income Statement For the Year Ended December 31, 2013 Sales revenue Gain on equipment sale $1,070,000 17,000 1,087,000 700,000 Total revenue Cost of goods sold Operating expenses Depreciation expense Interest expense Wages expenses Other expenses Income before taxes S 30,000 7,400 175,000 16,000 228,400 158,600 63,400 $ 95,200 Tax expense Net income Cook Enterprises Comparative Balance Sheets As of December 31 2013 2012 Cash Accounts receivable, net Inventory $124,200 287,200 125,000 536,400 297,000 92007 207,000 $743,400 $ 40,400 269,800 95,000 405,200 160,000 60,000 100,000 $505,200 Total current assets Property, plant, & equipment Accumulated depreciation Net property, plant, & equipment Total assets Accounts payable Wages payable Accrued liabilities Taxes payable Mortgage payable $103,000 27,000 20,000 17,600 70,400 238,000 350,000 155,400 505,400 $120,000 30,000 25,000 20,000 0 Total liabilities Common stock Retained earnings 195,000 250,000 60,200 310,200 $505,200 Total stockholders' equity Total liabilities & stockholders' equity