10 minutes please

Question 2 [30 points] Benson Inc.'s balance sheet and income statement are as follows Donna DE Como balono Sheetinformation Income Statement December 31 For the Year Ended December 31 2015 Assets 2015 2014 Sales $1,400,000 Cash $115,000 $75,000 Cost of goods sold 824,000 Accounts receivable 59,000 53,000 Gross pront 576,000 Merchandise inventory 402,000 351,000 Operating expenses Equipment 225,000 199,000 Depreciation expense 39,000 Accumulated depreciatior(104.000) (65,000) Other expenses 332000 Total assets $697,0005613,000 Total operating expense! 371,000 Liabilities and Equity Income from operations 205,000 Accounts payable $35,000 $60,000 income taxes 30,000 Income taxes payable 19,000 18,000 Net income $175,000 Share capital 517,500 480,000 Retained earnings 125,500 55,000 Total liabilities and equity 5697,0005613,000 Additional information regarding Benson Inc 's activities during 2015 a Equipment is purchased for $26,000 cash. b. 15,000 common shares are issued for cash at $2.50 per share. Prepare a statement of cash flows for 2015. Use the indirect method to report cash inflows and outflows for the operating activities section (select oney Statement of Cash Flows (select one)