Yaupon, Inc.'s 1990 statement of cash flows appeared as follows:

Yaupon, Inc.'s, beginning and ending balance sheets were as follows:

An examination of the company's statements and accounts showed:

a. All sales were made on credit.

b. All merchandise purchases were on credit.

c. Accounts Payable balances resulted from merchandise purchases.

d. Prepaid expenses relate to other operating expenses.

e. Equipment that cost \(\$ 42,500\) and was depreciated \(\$ 24,000\) was sold for cash.

f. Equipment was purchased for cash.
g. The change in the balance of Accumulated Depreciation resulted from depreciation expense and from the sale of equipment.
h. The change in the balance of Retained Earnings resulted from dividend declarations and net income.
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Present Yaupon, Inc.'s, income statement for 1990. Show your supporting calculations.

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Cash flows from operating activities: Cash receipts from customers. Cash payments for merchandise. Payments for other operating expenses. Payments of income taxes.... Net cash provided by operating activities. Cash flows from investing activities: Receipt from sale of office equipment Purchase of store equipment Net cash used by investing activities. Cash flows from financing activities: Payment to retire bonds payable. Payment of dividends. Net cash used by financing activities. Net increase in cash .. Cash balance at beginning of year Cash balance at end of year. $772,800 (425,400) (169,800) (32,400) $145,200 $ 5,100 (33,000) (27,900) $ (42,300) (30,000) (72,300) $ 45,000 45,400 $ 90,400