Required:Prepare a direct method cash flow statement based on the information above.

Include a supplemental schedule of NI to CFO.

Accounting 3210 -- Cash Flow Homework Problem Name: Class Time: Homework Company 1/1/2020 12/31/2020 $ ASSETS Current Assets Cash Accounts Receivable Inventory PPD Insurance Total Current Assets 18,000 $ 45,500 89,000 1,500 154,000 13,600 41,700 96,500 1,250 153,050 1/1/2020 12/31/2020 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts Payable $ 38,200 $ 42,600 Other Payables 23,300 19,175 Interest Payable 750 825 Total Current Liabilities 62,250 62,600 Notes Payable 75,000 82,000 Total Liabilities 137,250 144,600 Noncurrent Assets Land Buildings & Equipment Build & Equip - Accum. Depn. Total Noncurrent Assets TOTAL ASSETS 25,000 280,000 (42,000) 263,000 417,000 $ 31,500 330,000 (56,000) 305,500 458,550 Common Stock Retained Earnings Total Equity TOTAL LIAB. AND EQUITY 225,000 240,000 54,750 73,950 279,750 313,950 417,000 $ 458,550 $ $ $ 458,000 (267,000) 191,000 Other Information Loss on sale of Land $1,800. Original cost $7,500. No sales of Buildings and Equipment during period. No payments of Notes Payable. Sales Cost of Goods Sold Gross Margin Operating Expenses Other Operating Expenses Insurance Expense Depreciation Operating Income (133,500) (6,000) (14,000) 37,500 Interest Expense Loss on Land Sale Net Income (4,500) (1,800) 31,200 $