PROBLEM $13\mathrm{.}6$A Preparing a Statement of Cash Flows: A Comprehensive Problem without a Worksheet LO$13-2,$ LO$13-3,$ LO$13-4,$ LO$13-6,$ LO$13-8$ You are the controller for $21$st Century Technologies. Your staff has prepared an income statement for the current year and has developed the following additional information by analyzing changes in the company$$s balance sheet accounts: Row $1$ is a header and contains no data in columns $2$ and $3.$ Rows $2$ through $5$ contain no data in column $2.$ Row $6$ is a header and contains no data in columns $2$ and $3.$ Rows $7$ through $11$ contain no data in column $3.$ Rows $12$ and $13$ contain no data in column $2.21$ST CENTURY TECHNOLOGIES INCOME STATEMENT FOR THE YEAR ENDED DECEMBER $31,2024$ Revenue: Net sales $$3,200,000$ Interest revenue $40,000$ Gain on sales of marketable securities $34,000$ Total revenue and gains $$3,274,000$ Costs and expenses: Cost of goods sold $$1,620,000$ Operating expenses $($including depreciation of $$150,000)1,240,000$ Interest expense $42,000$ Income tax expense $100,000$ Loss on sales of plant assets $12,000$ Total costs, expenses, and losses $3,014,000$ Net income $ $260,000$ Additional Information Accounts receivable increased by $$60,000.$ Accrued interest receivable decreased by $$2,000.$ Inventory decreased by $$60,000,$ and accounts payable to suppliers of merchandise decreased by $$16,000.$ Page $618$Short$-$term prepayments of operating expenses increased by $$6,000,$ and accrued liabilities for operating expenses decreased by $$8,000.$ The liability for accrued interest payable increased by $$4,000$ during the year. The liability for accrued income taxes payable decreased by $$14,000$ during the year. The following schedule summarizes the total debit and credit entries during the year in other balance sheet accounts: Row $1$ is a header for columns $2$ and $3.$ Rows $6$ and $7$ contain no debit entries. Debit Entries Credit Entries Marketable Securities $$60,000$ $$38,000$ Notes Receivable $($cash loans made to borrowers$)44,00028,000$ Plant Assets $($see paragraph $8)500,00036,000$ Notes Payable $($short$-$term borrowing$)92,00082,000$ Capital Stock $20,000$ Additional Paid$-$in Capital$$Capital Stock $160,000$ Retained Earnings $($see paragraph $9)120,000260,000$ The $$36,000$ in credit entries to the Plant Assets account is net of any debits to Accumulated Depreciation when plant assets were retired. The $$36,000$ in credit entries represents the book value of all plant assets sold or retired during the year. The $$120,000$ debit to Retained Earnings represents dividends declared and paid during the year. The $$260,000$ credit entry represents the net income shown in the income statement. All investing and financing activities were cash transactions. Cash and cash equivalents amounted to $$244,000$ at the beginning of the year and $$164,000$ at year$-$end. Instructions Prepare a statement of cash flows for the current year. Use the direct method of reporting cash flows from operating activities. Place