1. Using the income statement and balance sheets provided below, prepare a statement of cash flows for the year ended December 31, 2019, using the direct method.

		Income Statement For Year Ended December 31, 2019
Sales	$	1,000.00
Cost of Goods sold	$	650.00
Depreciation expense	$	100.00
Sales and general expense	$	100.00
Interest expense	$	50.00
Income Tax expense	$	40.00
Net Income	$	60.00

	Balance Sheet December 31, 2018 and 2019 2018 2019
Assets Cash $	50.00	$ 60.00
Account Receivable $	500.00	$ 520.00
Inventory $	750.00	$ 770.00
Current Assets $	1,300.00	$ 1,350.00
Fixed Assets (net) $	500.00	$ 550.00
Total Assets $	1,800.00	$ 1,900.00
Liabilities and Equity Notes payable $	100.00	$ 75.00
Accounts payable $	590.00	$ 615.00
Interest payable $	10.00	$ 20.00
Current Liabilities $	700.00	$ 710.00
Long-term Debt $	300.00	$ 350.00
Deferred income tax $	300.00	$ 310.00
Capital Stock $	400.00	$ 400.00
Retained earnings $	100.00	$ 130.00
Total Liabilities and Equity $	1,800.00	$ 1,900.00