The 2024 comparative balance sheet and income statement of Sunshine Group, Inc. follow. Sunshine disposed of a plant asset at book value during 2024

Prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method. Cash payment for dividends totaled $22,800. There were no sales of land, no retirement of common stock, and no treasury stock transactions. Assume plant asset and land acquisitions were for cash.

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SUNSHINE GROUP, INC. Income Statement Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salary Expense Depreciation Expense-Plant Assets Rent Expense Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income $ 24,000 23,000 5,500 4,800 (6,500) $ 218,000 110,500 107,500 52,500 55,000 (1,700) 53,300 (2,000) $51,300