12 HW (15 pts) Use the following information for the Problems below. nts For the year, (1) all sales are are on sales, (2) all credits to Accounts R credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid In advance and are initially debited to Prepaid Expenses. The company's income statement and balance sheets follow le reflect cash receipts from customers, (3) all purchases of s 49, 800 73,500 50, 625 250 Prepaid expenses Total current a sets Total assets 6, 00 65.00 37,500 Retained Ch 12 HW (15 pts) Income Statement $582,500 s 20,750 Income taxes expense Net income eferences Problem 12-3A Indirect: Statement of cash flows LO A1, P1, P2, P3 a. The loss on the cash sale of e b. Sold of $30,125, for $11625 cash d $4,000 cash by signing a s e. Paid $50,125 cash to reduce the long-term notes payable. g. Declared and paid cash di of $50100, 1. Prepare a c Ch 12 HW (15 pts) Statement of Cash Flows