Intermediate Accounting E23-13 (SCF-Direct Method) Andrews Inc., a greeting card company, had the following statements prepared as of December 31, 2015. ANDREWS INC COMPARATIVE STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2015 AND 2014 12/31/15 12/31/14 Equipment 154.000 E130,000 Accumulated depr.-equipment 35.000) (25,000) Copyrights 46,000 50,000 Inventory 40,000 60,000 Prepaid rent 5.000 4,000 Accounts receivable 22.000 49.000 Short-term investments (trading) 35.000 18.000 Cash 6.000 9,000 Total assets 31.3.0.2 9195.000 Share capital ordinary, 10 par E100,000 100,000 Share premium ordinary 30.000 30,000 Retained earning 57.000 36,000 Long-term loans payable 60.000 67.000 Accounts payable 46.000 42.000 Income taxes payable 4,000 6,000 Salaries and wages payable 8.000 4.000 Short-term loans payable 2.000 10,000 Total equity and liabilities $312.000 2295.000 ANDREWS INC INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2015 338,150 175.000 163,150 120.000 43,150 Sales revenue Cost of goods sold Gross margin Operating expenses Operating income Interest expense Gain on sale of equipment Income before tax Income tax expense Net Income 11.400 2.000 9,400 33,750 6,750 27.000 Twitter: Qu_04 ACC211 Intermediate Accounting Additional information: 1. Dividends in the amount of 6,000 were declared and paid during 2015, 2. Depreciation expense and amortization expense are included in operating expenses. 3. No unrealized gains or losses have occurred on the investments during the year. 4. Equipment that had a cost of 30.000 and was 70% depreciated was sold during 2015. Instructions Prepare a statement of cash flows using the direct method