1 (25 points. The balance sheets for Kooler Company showed the following information: Kooler Company Balance Sheet Cash Accounts Receivable (net) Inventory Investments in trading securities Property, Plant & Equipment Accumulated Depreciation Totals December 31 2004 9,600 18,400 32,000 17,000 120,000 (24.000) 173,000 2005 20,800 36,700 43,000 0 184,200 (32,400) 252,300 22,700 15,000 20,200 22,800 Accounts Payable Notes Payable, short term (nontrade) Long-term Notes Payable Common Stock Retained Earnings Totals 26,000 82,000 27,300 173,000 56,000 102,000 51,300 252,300 Additional data: 1. Net income for the year 2005, $54,000 2. Sold machinery costing $30,000 with a book value of $12,000 for $15,000. 3. Sold the investments for $15,000 4. Paid dividends of $30,000 5. Purchased machinery and gave a $50,000 long-term note payable 6. Paid a $20,000 long-term note payable by issuing common stock. 7. Accounts receivable written off during the year, $2,500. 8. Bad Debt Expense for the year 2005, $19,000 9. Cash inflow from customers in 2005, $459,000. a. Requirements: (20 points) On the next page, prepare a statement of cash flows (in good form) for the year ended December 31, 20x5. Use the indirect approach to disclose the cash flows from operating activities. b. (5 points) Determine the amount of sales reported on the income statement