The income statement and additional data of Dedicated Corporation follow: 

a. Collections from customers are $15,500 more than sales. 

b. Dividend revenue, interest expense, and income tax expense equal their cash amounts. 

c. Payments to suppliers are the sum of cost of goods sold plus advertising expense. 

d. Payments to employees are $1,000 more than salaries expense. 

e. Cash payment for the acquisition of plant assets is $102,000. 

f. Cash receipts from sale of land total $24,000. 

g. Cash receipts from issuance of common stock total $32,000. 

h. Payment of long-term notes payable is $17,000. i. Payment of dividends is $10,500. 

j. Cash balance at June 30, 2024, was $25,000; at June 30, 2025, it was $28,000. 

Prepare Dedicated Corporation’s statement of cash flows for the year ended June 30, 2025. Use the direct method.

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Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense DEDICATED CORPORATION Income Statement Year Ended June 30, 2025 Depreciation Expense-Plant Assets Advertising Expense Total Operating Expenses Operating Income Other Income and (Expenses): Dividend Revenue Interest Expense Total Other Income and (Expenses) Net Income Before Income Taxes Income Tax Expense Net Income $ 48,000 28,000 13,000 8,000 (3,000) $ 231,000 102,000 129,000 89,000 40,000 5,000 45,000 11,000 $ 34,000