Prepare a statement of cash flows using JSFDs balance sheet, income statement and the additional information is provided below: (CLO5)

Retired notes payable through a $12,000 cash payment

See problem 2 for cash received from issuing common and preferred stock, cash paid to purchase shares of treasury stock and cash dividends.

Sold plant assets yielding a gain of $25,000

Purchased $160,000 plant assets paying cash

JSFD
Cumulative Income Statement
Year's Ended 2014-2017
		2017		2016		2015		2014
Sales Revenue			$ 320,000		$ 304,000		$ 297,920			$ 321,510
Cost of Goods Sold			198,000		182,160		187,562			201,456
Gross Profit			122,000		121,840		110,358			120,054
Operating Expenses
	Salaries & Wages Expense	76,000		73,720		78,450		82,416
	Depreciation Expense- Plant Assets	15,000		15,000		15,000		15,000
	Other Operating Expenses	9,000		12,000		18,446		20,547
	Total Operating Expenses		100,000		100,720		111,896			117,963
Operating Income			22,000		21,120		(1,538)			2,091
Other Revenue & Expenses
	Interest Revenue	5,000		2,500		2,800		3,200
	Dividend Revenue	1,200		900		3,250		500
	Gain on Disposal of Plant Assets	25,000		-				10,500
	Interest Expense	(12,000)		(8,000)		(1,050)
	Total Other Revenues & Expenses		19,200		(4,600)		5,000			14,200
Income before Income Taxes			41,200		16,520		3,462			16,291
Income Tax Expense			8,240		3,304		692			3,258
Net Income			$ 32,960		$ 13,216		$ 2,770			$ 13,033

JSFD
Comparative Balance Sheet
December 31 2014-2017
		2017		2016		2015		2014
Assets
Current Assets
	Cash	$ 89,500		$ 11,140		$ 15,900		$ 32,600
	A/R	55,160		51,260		60,500		45,800
	Merch Inventory	36,000		42,000		43,500		48,720
Long-term Assets
	Plant Assets	303,000		213,000		160,000		120,500
	Acc. Dep- Plant Assets	(90,000)		(75,000)		(60,000)		(45,000)
Total Assets		393,660		242,400		219,900		202,620
Liabilities
Current Liabilities
	A/P	45,000		30,400		65,830		68,900
Long Term Liabilities
	N/P	12,000		24,000		80,900		76,820
Total Liabilities		57,000		54,400		146,730		145,720
Stockholders' Equity
Common Stock		110,680		50,680		29,500		26,400
Preferred Stock		234,820		79,820		40,900		30,500
Retained Earnings		7,960		-		2,770		-
Treasury Stock		(16,800)		-		-		-
Total Stockholders' Equity		336,660		130,500		73,170		56,900
Total Liabilities & Stockholders Equity		$ 393,660		$ 184,900		$ 219,900		$ 202,620