work Question 2, Problem 3-13 (similar to) Working with a statement of cash flows) Given the balance sheet, 2018 Additional Information Part 2 of 3 HW Score: 59.38%, 1.19 of 2 points Points: 0.19 of 1 S and income statement, prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended January 1. The only entry in the accumulated depreciation account is for 2018 depreciation 2. The firm paid $23,460 in common stock dividends during 2018 Statement of Cash Flows Cash Flows from Operating Activities Net income 40,460 Adjustments Depreciation 27,000 Increase in accounts receivable (4,200) Decrease in inventory 14,200 Increase in account payable Decrease in accrued liabilities 6,000 (6,000) Net cash provided by operating activities 77,460 Complete the investing activities part of the statement of cash flows: (Round to the nearest dollar NOTE Input cash inflows as positive values and cash outflows as negative values) Statement of Cash Flows (Cont'd) Cash Flows from Investing Activities Increase in gross plant and equipment Net cash used in investing activities Cash $ 89,000 $ 113,000 Accounts receivable 64,000 68,200 Inventory 112,000 97,800 Prepaid expenses Total current assets Gross plant and equipment Accumulated depreciation Total assets Accounts payable 10,000 10,000 $ 275,000 $ 289,000 238,000 (40,000) 309,000 (67,000) $ 473,000 $ 531,000 $ 85,000 $ 91,000 68,000 Accrued liabilities 62,000 Total current debt $ 153,000 $ 153,000 Mortgage payable 70,000 0 Preferred stock 0 125,000 Common stock 205,000 205,000 Retained earnings .45,000 48,000 473,000 $ 531,000 Total debt and equity Abrahams Manufacturing Company Income Statement for the Year Ended 1/31/2018 2018 Sales $ 189,000 Cost of goods sold 57,000 Gross profit $ 132,000 Selling, general and administrative expenses. 43,000 27,000 Depreciation expense Operating income $ 62,000 Interest expense 2,500 Earnings before taxes $ 59,500 Taxes 19,040 14,000 Preferred stock dividends $ 26,460 Earnings available to common stockholders