PLEASE USE THE DIRECT METHOD

1. To prepare the statement of cash flow for 2018 for Monsoon Company Cash balance January 12018,$12,000 - Net Income for the year ended December 31, 2018 was $49,000 - Depreciation expense for 2018 was $12,000 - During 2018, plant assets with a book value of $50,000 (cost $50,000 and accumulated depreciation $0 ) were sold for $80,000 - Plant assets were acquired for $12,000 cash - Issued long-term notes payable for $10,000 - Purchased treasury stock for 1,000 - Paid dividends of $5,000 - Issued common stock for $10,000 - Repaid long-term notes payable for $15,000 -Decrease of accounts receivable, $55,000