Prepare statement of cash flows using the indirect method for Libby Inc. for the year 2013.

Libby Inc.

Income statement

For the year ended on December 31, 2013

Sales

$100,000

Cost of Goods Sold

$61,000

Depreciation

6,000

Supplies Expense

8,000

Wages Expense

10,000

Income Tax Expense

3,000

Total Expense

$88,000

Net income

12,000

Libby Inc.

Balance Sheet

December 31

2013

2012

Asset

Cash

$44,000

$18,000

Accounts Receivable

27,000

29,000

Merchandise Inventory

30,000

36,000

Property Plant and Equipment

111,000

102,000

Less Accumulated Depreciation

(36,000)

(30,000)

Total Assets

176,000

155,000

Accounts Payable

$25,000

$22,000

Wages Payable

800

1000

Notes Payable, Long Term

38,000

48,000

Common Stock

80,000

60,000

Retained Earnings

32,200

24,000

Total Liab. and Stockholder Eq.

176,000

155,000

Additional Information

1.Bought equipment for cash, $9,000.

2.Paid $10,000 on long term note payable.

3.Issue new shares of common stock for $20,000.

4.Declared and paid a $3,800 dividend in cash.

What is cash flows from:

Operatingactivities?

Investing activities?

Financing activities ?