Balance Sheet and Income Statement information is provided below for the Western Boot Company. Balance Sheet Information 12/31/19 12/31/18 Cash $ 45,785 $ 39,060 Accounts Receivable 21,835 25,000 Inventory 71,320 80,080 Equipment 105,000 86,940 Accumulated Depreciation ( 65,700) (62,000) Patents 15,000 3,000 Total Assets $193,240 $172,080 Accounts Payable $ 36,900 $ 78,075 Notes Payable 35,000 20,500 Common Stock 90,000 45,000 Retained Earnings 31,340 28,505 Total Liabilities and Stockholders Equity $193,240 $172,080 Income Statement Information for the Year Ended December 31, 2019 Revenue $408,365 Expenses (362,830) Depreciation ( 3,700) Net Income $ 41,835 Additional information for the year 2019: 1. Additional equipment was purchased for $18,060. 2. A patent was purchased from a competitor for $12,000 3. $45,000 of additional common stock was issued. 4. Dividends were declared and paid in the amount of $39,000 5. An additional long-term loan of $14,500 was issued. Required: Prepare a statement of cash flows for the year ending December 31, 2019.

Balance Sheet and Income Statement information is provided below for the Western Boot Company. Additional information for the year 2019: 1. Additional equipment was purchased for $18,060. 2. A patent was purchased from a competitor for $12,000 3. $45,000 of additional common stock was issued. 4. Dividends were declared and paid in the amount of $39,000 5. An additional long-term loan of $14,500 was issued. Required: Prepare a statement of cash flows for the year ending December 31, 2019