Johnson Company has the following data from the balance sheet: Cash Accounts receivable, net Inventory Prepaid...

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Johnson Company has the following data from the balance sheet: Cash Accounts receivable, net Inventory Prepaid rent Accounts payable 12/31/2023 $30,000 12/31/2022 $80,000 100,000 160,000 100,000 60,000 20,000 10,000 $50,000 $40,000 40,000 40,000 Salaries payable The company also reports the following income statement for the year ending December 31, 2023; Sales $1,100,000 Expenses: Cost of goods sold $400,000 Salaries expense 101,000)] Rent expense 30,000 Depreciation expense 20,000 Interest expense 9000 Loss on sale of equipment 7,000 Total Expenses 567,000 Income Before Taxes 533,000 Income tax expense 22,000 $511,000 Net income Using the direct method, prepare the statement of cash flows for the year ending December 31, 2023. A) $613,000 B) $558,000 C) $681,000 D) $1,043,000 Johnson Company has the following data from the balance sheet: Cash Accounts receivable, net Inventory Prepaid rent Accounts payable 12/31/2023 $30,000 12/31/2022 $80,000 100,000 160,000 100,000 60,000 20,000 10,000 $50,000 $40,000 40,000 40,000 Salaries payable The company also reports the following income statement for the year ending December 31, 2023; Sales $1,100,000 Expenses: Cost of goods sold $400,000 Salaries expense 101,000)] Rent expense 30,000 Depreciation expense 20,000 Interest expense 9000 Loss on sale of equipment 7,000 Total Expenses 567,000 Income Before Taxes 533,000 Income tax expense 22,000 $511,000 Net income Using the direct method, prepare the statement of cash flows for the year ending December 31, 2023. A) $613,000 B) $558,000 C) $681,000 D) $1,043,000