6. Fitch Inc.’s financial statements are as follows:

Fitch also sold stock for $2.5 million and paid dividends of $3.1 million. No fixed assets were retired during the year. (Hint: That implies fixed asset purchases and depreciation are the only changes in the gross fixed assets and accumulated depreciation accounts.)
Construct Fitch’s statement of cash flows for 20X1.

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Fitch Inc. Balance Sheet For the period ended 12/31/1 ($000) Fitch Inc. Income Statement For the period ended 12/31/x1 ($000) ASSETS Sales $40,506 12/31/X0 12/31/X1 COGS 14,177 Cash Accounts receivable $ 2,165 $ 2,647 Gross margin $26,329 4,832 5,614 Expense 19,487 Inventory 3,217 2,843 EBIT CURRENT ASSETS $10,214 $ 11,104 Interest Fixed assets EBT Gross Tax $35,183 $39,456 $ 6,842 $ 6,662 2,265 180 Accumulated deprec. (22,640) (24,852) Net income $ 4,397 Net Total assets $12,543 $14,604 $22,757 $25,708 LIABILITIES Accounts payable Accruals CURRENT LIABILITIES $ 1,642 $ 1,420 438 1,228 $ 2,080 $ 2,648 Long-term debt $ 1,823 $ 409 Equity 18,854 22,651 TOTAL CAPITAL $20,677 $23,060 TOTAL LIABILITIES AND EQUITY $22,757 $25,708