12 000 Herkshire Bathaway Enterprises Balance Sheet as at 30 June 2019 Current assets Current liabilities Rank 20 000 Accounts payable Accounts receivable 16 000 Inventory 68000 Non-current liabilities Loan 20 000 Non-current assets Totallables 32 000 Equipment 120 000 L M. Dep (28.000) 92 000 Owners' equity 128 000 Total assets $160000 Total liabilities &owners' equity S160 000 Income Statement for the year ended 30 June 2020 Sales 240 000 Less, Cost of Goods Sold 140 000) Gross proft 100 000 Less: Operating Expenses Depreciation (24 000) Wages expense (16000) Interest expense (1600) (41 600) Net Profit $58 400 Current assets Bank Accounts receivable Inventory 200 Non-current assets Equipment Less Acc. Dep Balance sheet as at 30 June 2020 Current liabilities 38 400 Accounts payable 24 000 24 800 Accrued expenses 24 900 20 000 83 200 Non-current liabilities Loan 12 000 152 000 Total liabilities 36 300 (52 000) 100 000 Owners' equity Capital 120 000 Ret. Earnings (bag) 0 Plus profit 58 400 Less drawings (40 000) Ret Earingsfond 18 400 Total owners' equity 145 400 $183 200 Total liabilities & owners' equity $183 200 Total assets Additional information: 1. During the year no equipment was sold 2. Accounts payable all relate to purchases of inventories 3. Accrued expenses in the balance sheet at 30 June 2020 were for unpaid wages 4. Interest expenses were all paid during the year 5. All sales are on credit Required: a) Prepare a properly classified Statement of Cash Flows for the year ended 30 June 2020 from the above information. Show all workings