EXERCISES 1. Given the information provided below. prepare a statement of cash flows for 2019 using the indirect method. Provide your comments 2018 10.000 6.000 43.000 59.000 23.000 8.000 15.000 Balance Sheet Cash Accounts receivable (net) Inventory Total Current Assets Plant and equipment Less accumulated depreciation Plant and equipment (net) Long term investments Total Assets Accounts payable Accrued Liabilities Income Tax Liabilities Total current Liabilities Long term debt Total Liabilities Common stock (15 par) and additional paid in capital Retained earnings Total liabilities and Equity 940.000 550.000 390.000 288.000 5.000 97.000 1.000 2019 33.000 11.000 112.000 156.000 30.000 13.000 17.000 12.000 185.000 33.000 7.000 4.000 44.000 2.000 46.000 99.000 40.000 185.000 Income Statement for 2019 Sales Cost of goods sold Gross profit Selling and administrative costs Depreciation Operating profit Interest expense Earnings before tax Tax expense Net Income 96.000 34.000 62.000 83.000 25.000 6.000 1.000 32.000 32.000 73.000 22.000 83.000