See the income statement and balance sheet information below for Vandelay Industries. Assume that Vandelay had no

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Question:

See the income statement and balance sheet information below for Vandelay Industries. Assume that Vandelay had no amortization expenses, just depreciation.
*Additionally, Vandelay Industries made dividend payments of $428,000 this year

Prepare a statement of cash flows. label with the appropriate categories: operating activities, investing activities and financing activities.

Vandelay Industries' Balance Sheets
Last Year Current Year
Assets
Cash and equivalents $ 45,000 $ 50,000
Other Current Assets 715,000 710,000
Total current assets $ 760,000 $ 760,000
Plant and Equipment $ 2,400,000 $ 2,650,000
Accumulated Dep. $ (550,000) $ (700,000)
Net PP & E $ 1,850,000 $ 1,950,000
Total assets $ 2,610,000 $ 2,710,000

Liabilities and equity
Accounts payable $ 110,000 $ 85,000
Notes payable 65,000 10,000
Accruals 35,000 15,000
Total current liabilities $ 210,000 $ 110,000
Long-term bonds $ 800,000 $ 900,000
Total Liabilities $ 1,010,000 $ 1,010,000
Common Stock (100,000 shares) 100,000 100,000
Paid in Capital 600,000 600,000
Retained Earnings 900,000 1,000,000
Total Equity $ 1,600,000 $ 1,700,000
Total Liabilities and Equity $ 2,610,000 $ 2,710,000

Vandelay Industries' Income Statement
Current Year
Sales $ 5,500,000
Cost of Goods Sold 4,200,000
Gross Profit 1,300,000
SG&A Expense 260,000
Depreciation and
amortization 150,000
EBIT $ 890,000
Less interest 90,000
Pre-tax earnings $ 800,000
Taxes (34%) 272,000
Net Income $ 528,000