The income statement and additional data of Amalgamated Services, Inc., follow:

Additional data:

a. Collections from customers are $9,000 more than sales.

b. Payments to suppliers are $3,000 more than the sum of cost of goods sold plus advertising expense.

c. Payments to employees are $13,000 more than salaries expense.

d. Dividend revenue, interest expense, and income tax expense equal their cash amounts.

e. Acquisition of fixed assets for cash is $85,000.

f. Proceeds from the sale of land total $21,000.

g. Proceeds from issuance of common stock for cash total $34,000.

h. Payment of a long-term note payable is $17,000.

i. Payment of dividends is $11,000.

j. Cash balance at June 30, 2017, was $28,000.

Requirement

Prepare Amalgamated Services? statement of cash flows for the year ended June 30, 2018. Use the direct method.

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Amalgamated Services, Inc. Income Statement Year Ended June 30, 2018 Revenues: $281,000 Sales Revenue Dividend Revenue 10,000 $291,000 Total Revenues Expenses: $101,000 Cost of Goods Sold Salaries Expense Depreciation Expense Advertising Expense Interest Expense Income Tax Expense Total Expenses 60,000 17,000 15,000 3,000 14,000 210,000 $ 81,000 Net Income