do in proper accounting format and show calculation if any

cash flow statement to be prepared by indirect method

Problem #6 (15 Marks): The financial statements appear below: JDS Inc. Comparative Balance Sheet November 30, 2019 2019 2018 $ 18,000 31,000 32,000 74,000 (24,000 $131,000 $ 23,000 34,000 15,000 78,000 (24.000 $126.000 Assets Cash Accounts receivable Merchandise inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Shareholders' Equity Accounts payable Income taxes payable Bonds payable Common shares, 10,000 shares issued Retained earnings Total JDS Inc. Income Statement Year Ended November 30, 2019 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net earnings $ 20,000 10,000 16,000 40,000 45.000 $131.000 $ 23,000 8,000 33,000 24,000 38.000 $126.000 $470,000 400,000 70,000 36,000 34,000 4,000 30,000 8.000 $22.000 The following additional data were provided: 1. Cash dividends declared and paid during the year. 2. During the year, equipment was sold for $6,000 cash. This equipment cost $32,000 originally and a loss of $6,000 was recognized at the time of sale. 3. Equipment was purchased during the year with cash. 4. $20,000 in depreciation expense was recorded during the year which is included in operating expenses. 5. All operating expenses except for depreciation were paid in cash 6. No common shares were repurchased and retired during the year. 7. No bond payables were issued to investors during the year. INSTRUCTIONS - Prepare a cash flow statement for JDS Inc., for the year ended November 30, 2019, using the indirect method