10 minutes please

Question 3 [30 points) Use the star in financial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 31, 2014 ung the insisted Additional information a Purchased machinery for $33.000 cash Soud the long-term investment on January 1, 2014 for $40,000 Sold machinery for $15,000 cash that had originary cost $51,000 and had $41,500 of accumulated depreciation d. Issued $48.000 or bonds payable at tace value. e. The short term investment is a treasury bill that was purchased with maturity in 90 days LO Cash Flow Comparate Balance Sheraton December 31 Schment of Cal Flows Cash flows from operating activities Adjust to reconcile net income to cash provided by oper, act. Comance Sheet Information December 31 Assets 2014 2013 Cash 282,200 220,000 Short-term investments 33,000 23,000 Accounts receivable 109,500 64,000 Merchandise inventory 23,900 46,000 Long term investment 0 25,000 Machinery 272,000 290,000 Accumulated depreciation (117,500) (120,000) Total assets 603,100 548,000 Cash flows from investing activities X Cash flows from financing activities X Liabilities and Equity Accounts payable Dividends payable Bonds payable Share capital Retained earnings Total liabilities and equity 32,600 22,000 48,000 313,000 187,500 603,100 R 61,000 34,000 0 313,000 140,000 548,000 Net increase (decrease) in cash Cash at beginning of year Cash at end of year Enter 820,000 Star Inc Income Statement For Year Ended December 31, 2014 Sales Cost Of Goods Sold 720,000 Depreciation expense 39,000 Other expenses 43,000 Gain on sale of long-term investment Gain on sale of machinery Net income (802.000) 24,000 5,500 47,500