Construct a Cash Flow Statement using direct method

  

XYZ Corporation - Income Statement For Year Ended 12/31/xx Sales Revenue Cost of Goods Sold Gross Profit Expenses: Insurance Exp Wages Exp. Rent Expense Depreciation Exp. Net Income: 1,100 5,700 3,600 200 44,000 (31,000) 13,000 (10,600) 2,400 n cash flow direct method homework 1 in class Other Info: a) Land was aquired by issuing common stock b) Old furniture was sold for $200 cash c) New furniture was purchased for $1,800 cash d) The company paid down L/T Note Payable. e) Cash dividends of $1,000 were paid during. DIRECT METHOD