Prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended December 31, 2015. Interpret your results.

Abrahams Manufacturing Company Balance Sheet for 12/31/2014 and 12/31/2015

Abrahams Manufacturing Company Income Statement for the Year Ended 12/31/2015
2015
Sales .................................................. $184,000
Cost of goods sold ................................... (60,000)
Gross profit .......................................... $124,000
Selling, general, and administrative expenses ..... 44,000
Depreciation expense ............................... (26,000)
Operating income ................................... $ 54,000
Interest expense ...................................... (4,000)
Earnings before taxes ............................... $ 50,000
Taxes .................................................... 16,000
Preferred stock dividends ............................ 10,000
Earnings available to common shareholders .. $ 24,000
Additional Information
1. The only entry in the accumulated depreciation account is for 2015 depreciation.
2. The firm paid $22,000 in common stock dividends during 2015?

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2014 89,000 64,000 12,000 2015 Cash Accounts recelvable Inventory Prepaid expenses Total current assets Gross plant and equipment 70,000 100,000 80,000 11,000 238,000 Total assets $473.000 85,000 68,000 153,000 70,000 $90,000 63,000 153,000 Accounts payable Accrued liabilities Total current debt Mortgage payable Preferred stock Common stock Retained earnings Total debt and equity 120,000 45,000