Financial statement data for Gibbons Electronics Company for 2021 are as follows.

GIBBONS ELECTRONICS COMPANY

Comparative Balance Sheets

Dec. 31, 2021 Dec. 31, 2020

Assets

Cash $ 285,000 $ 335,000

Accounts receivable 350,000 400,000

Inventory 290,000 240,000

Prepaid insurance 55,000 35,000

Total current assets 980,000 1,010,000

Property; equipment, and vehicles 650,000 590,000

Accumulated amortization (165,000) (130,000)

Total noncurrent assets 485,000 460,000

Total assets $1,465,000 $1,470,000

Liabilities and shareholders equity

Accounts payable $ 60,000 $ 50,000

Wages payable 15,000 20,000

Unearned revenue 50,000 35,000

Income taxes payable 55,000 35,000

Total current liabilities 180,000 140,000

Bond payable 490,000 575,000

Total liabilities 670,000 715,000

Common shares 365,000 285,000

Retained earnings $ 430,000 $ 470,000

Total liabilities and shareholders equity $ 1,465,000 $ 1,470,000

GIBBONS ELECTRONICS COMPANY

Income statement

For the Year Ended December 31, 2021

Revenue $3,855,000

Expenses

Cost of goods sold $1,905,000

Wage expense 335,000

Amortization expense 95,000

Interest expense 150,000

Income taxes 345,000

Administration expense 525,000

Gain on sale of vehicles (10,000)

Total expenses 3,345,000

Net income $510,000

Additional information:

1. Property; plant, and equipment originally costing $90,000 was sold for $40,000.

2. New equipment costing $150,000 was purchased during the year.

3. New shares were issued for $80,000 during the year.

4. Dividends declared and paid during the year were $550,000.

Required:

Prepare a cash flow statement for Gibbons Electronic Company for the year ended December 31, 2021. Include the supplementary information about the interest paid and the income taxes paid