Problem 3-37 Income versus Cash Flows (L03) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the Income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 $5,600 1,800 420 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes payable Dividends paid Cash and marketable securities 250 410 220 790 280 450 4,900 3,200 1,010 320 2,475 2019 $5,700 1,900 440 285 460 220 810 325 525 5,530 4,700 740 320 390 * Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was Installed. Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be Indicated by a minus sign.) Answer is not complete. Fincorp Inc. Statement of Cash Flows ($ in 000s) Cash flows from operations Net income Noncash expenses Depreciation expense $ 440 Changes in working capital Change in inventories Change in accounts payable Change in accounts receivable (35) 45 (75) Total change in working capital ( (65) 375 $ Cash flows from investments 0 Cash flows from financing activities Dividends paid OO Additions to long-term debt 1,500 1,500 1,875 Net decrease in cash and cash equivalents S Problem 3-37 Income versus Cash Flows (L03) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the Income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. 2018 $5,600 1,800 420 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes payable Dividends paid Cash and marketable securities 250 410 220 790 280 450 4,900 3,200 1,010 320 2,475 2019 $5,700 1,900 440 285 460 220 810 325 525 5,530 4,700 740 320 390 * Taxes are paid in their entirety in the year that the tax obligation is incurred. Net fixed assets are fixed assets net of accumulated depreciation since the asset was Installed. Construct a statement of cash flows for Fincorp for 2019. (Enter your answers in thousands of dollars. Negative amounts should be Indicated by a minus sign.) Answer is not complete. Fincorp Inc. Statement of Cash Flows ($ in 000s) Cash flows from operations Net income Noncash expenses Depreciation expense $ 440 Changes in working capital Change in inventories Change in accounts payable Change in accounts receivable (35) 45 (75) Total change in working capital ( (65) 375 $ Cash flows from investments 0 Cash flows from financing activities Dividends paid OO Additions to long-term debt 1,500 1,500 1,875 Net decrease in cash and cash equivalents S