Answer the 3 part question

3-7. (Working with income statement and balance sheet) Prepare an income statement and a balance sheet from the following scrambled list of items. What is the firm's net working capital and debt ratio? Sales $550,000 Accumulated depreciation 190,000 Cash ? Cost of goods sold 320,000 Accounts receivable 73,000 Depreciation expense 38,000 Accounts payable 65,000 Interest expense 26,000 Short-term notes payable 29,000 Income taxes 59,850 47,000 Inventories 45,000 Marketing, general, and administrative expenses 648,000 Gross fixed assets 360,000 Long-term debt 120,000 Common stock 15,000 Other assets 138,500 Retained earnings In addition, the firm has 10,000 shares outstanding and paid $15,000 in common stock dividends during the year. 3-8. (Working with a statement of cash flows) Given the following information, prepare a statement of cash flows. Increase in accounts receivable Increase in inventories Operating income Interest expense Increase in accounts payable Dividends Increase in common stock Increase in gross fixed assets Depreciation expense Income taxes Beginning cash $25 30 75 25 25 15 20 23 12 17 20 3-9. (Analyzing a statement of cash flows) Interpret the following information regard- ing Westlake Corporation's cash flows. Net income $680 Depreciation expense 125 Profits before depreciation 805 Increase in accounts receivable (200) Increase in inventories (240) Increase in accounts payable 120 Increase in accrued expenses 81 Cash flow from operations $566 Investment activity Change in fixed assets ($1,064) Financing activity Increase in long-term debt $640 Common stock dividends (120) Total financing activities $520 Change in cash $22 Beginning cash 500 Ending cash $522