Complete a cash flow statement for the company using: 1. Proper header. The below headers are not proper. 2. By the indirect method 4. Include any assumptions you make in the calculations. Balance Sheets Dec 31 X1 Dec 31 X2 $ 200,000 4,000 $ 180,000 $ 192,000 $90,000 6,000 108,000 $240,000 CA Cash Equivalents Accounts Receivable CA Merchandise Inventory CA PPE Long Accumulated Total Assets $ 480,000 $304,000 $ (160,00o) S 144000 $720,000 (152,000) $328,000 S 772,000 $88,000 $170,000 6,000 48,000 196,000 Accounts Payable Income Taxes Payable Deferred Income Taxes Bonds Payable Discount on Bonds Payable Common Stock $200,000 340,000 40,000$ 300,000 20,000 180,000 $ 108,000 168,000 $720,000 $108,000 S120,000 $772,000 Retained Earnings Income Statement for X2 Sales CGS Gross Profit 4,200,000 $3,576,000 624,000 Additional information: 1. Dividends for the year were $96,000. $300,000 96,000 originally and had.a book value of $144,000? Selling Expenses General and Administrative Income from operations Interest Expense Income before taxes Income taxes Net income 396,000 This loss is improperly put in cgs. . $ 228,000 $36,000 S 192,000 48,000 144,000 3. Depreciation expense is in selling expense and this is proper. 4.HINT1:write down the JE for deferred taxes that gets you to the new balances in the tax accounts. What part of it must reflect payment of taxes? 5. HINT2: Reviewing the Discount on bonds balances, what must be the interest expense that is not from cash flow? This is an adjustment in operating