Required
Refer to the information in Problem 17-11B. Prepare a statement of cash flows for 2014 using the direct method to report cash inflows and outflows from operating activities.
Other information:

a. All accounts payable balances result from merchandise purchases.
b. All sales are credit sales.
c. All credits to accounts receivable are receipts from customers.
d. All debits to accounts payable result from payments for merchandise.
e. All debits and credits to accrued liabilities result from otherexpenses.

Newtech Brake Inc. Post-Closing Trial Balance Newtech Brake Inc. Income Statement For Year Ended December 31, 2014 December 31 2014 Account 2013 Revenues Sales $513,600 Expenses and other: Merchandise inventory 43,200 38,800 167,600 18,000 (8,000) Accumulated depreciation167,600 165,600 78,000 7,200 75,200 80,000 98,800 Depreciation expense... Gain on sale of plant assets.. Accounts payable.... Accrued liabilities Long-term notes payable 78,800 5,600 115,200 80,000 79,200 521,200 7,600 Net loss...