Question: please answer within the format with all working clearly please use commas and dollar sign in figures The income statement, balance sheets, and additional information
please answer within the format with all working clearly please use commas and dollar sign in figures
The income statement, balance sheets, and additional information for Track Inc. are provided. Track Inc Income Statement For the Year Ended December 31, 2019 Revenues $250,000 Gain on sale of land 4.000 Total revenues 254,000 Expenses: Cost of goods sold 127,000 Operating expenses 25,000 Depreciation expense 20,000 Interest expense 16,000 Income tax expense 12,000 Total expenses 200,000 Net Income $54,000 Track Ing Balance Sheets December, 31 Assets 2019 2018 Current Assets: Cash $330,000 $187,000 Accounts receivable 83.000 95,000 Inventory 121,000 138,000 Prepaid rent 7,000 5,000 Long-Term Assets: Investment in stock 186,000 100,000 Land 160,000 260,000 Equipment 295,000 225,000 Accumulated depreciation -120,000 -100,000 Total Assets $1,062.000 $910,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $40,000 $58,000 Interest payable 1,000 2,000 Income tax payable 12.000 10,000 Long-Term Liabilities Notes payable 275,000 205,000 Stockholders' Equity Common stock 410,000 350,000 Retained earnings 324,000 285,000 Total Liabilities and Equity $1,062,000 $910,000 Additional Information for 2019: 1. Purchase additional investment in stocks for $86,000. 2. Sell land costing $100,000 for $104,000 resulting in a $4,000 gain on sale of land. 3. Issue common stock in exchange for cash $60,000. 4. Declared and paid a cash dividend of $15,000. 5. Purchase $70,000 in equipment by borrowing $70,000 with a note payable due in three years. No cash is exchanged in the transaction. What is the cash flows from operating activities? What is the cash flows from investing activities? What is the cash flows from financing activities? What is the cash flows from non-cash activities