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NEXT Question 7 Use the following income statement and balance sheet Information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) 2012 Sales Cost of goods sold Gross profit Gen'l & admin expense Selling & mkt expense Depreciation Operating income Interest Income before taxes Income taxes (27%) Net Income Dividends paid $1,242,000 $685,000 $557,000 $159,000 $134,000 $25,000 $239,000 $140,000 $99,000 $26,730 $72,270 $25,000 Assets 2017 2016 Cash Accounts receivable. Inventory Total current assets Gross plant and equipment Less: accum. depreciation Net plant and equipment Total assets $23,000 $125,000 $200,000 $348,000 $700,000 $313,000 $387,000 $10,830 $112,000 $218,000 $340,830 $475,000 $288,000 $187,000 $527,830 $735,000 Liabilities $103,000 $28,000 tudy $131,000 Accounts payable Notes payable Total current liabilities Long-term debt Total liabilities Common stock ($0.01 par) Paid-in capital Retained earnings Total stockholders' equity Total liabilities and equity $117,000 $28,000 $145,000 $248,000 $393,000 $4,500 $218,500 $119,000 $342,000 $735,000 $153,000 $284,000 $4,000 $168,100 $71,730 $243,830 $527,830 Statement of Cash Flows 2017 CES Statement of Cash Flows 2017 Cash from Operations Net Income/LOSS Depreciation Increase in Accounts Receivable 2 Decrease in Inventories + Increase in Accounts Payable . dy a