12/31/15 12/31/14 Kenwood Corporation Statements of Financial Position for the years ended Current Assets Cash Accounts receivable Inventories Total Current Assets $333,200 588,000 728,000 1,649,200 $252,000 392,000 616,000 1,260,000 Land Plant and equipment Accumulated depreciation Total Assets 977,200 1,864,800 (484,400) $4,006,800 560,000 1,864,800 (280,000) $3,404,800 Current Liabilities Accounts payable Salaries payable Total Current Liabilities $1,372,000 $1,344,000 56,000 84,000 1,428,000 1,428,000 Bonds payable Total Liabilities 504,000 $1,932,000 504,000 $1,932,000 Stockholders' Equity Common stock Retained earnings Total Stockholders' Equity $1,243,200 $1,064,000 831,600 408,800 $2,074,800 $1,472,800 $2,800,000 Kenwood Corporation Income Statement for the year ended December 31, 2015 Sales (all are credit sales) Expenses: Cost of goods sold Salaries Depreciation Interest Net income (1,568,000) (532,000) (204,400) (67,200 428,400 Additional Information: Kenwood issued 8,000 shares of common stock for $179,200 cash on September 1, 2015. Kenwood declared and paid a $5,600 cash dividend on November 30, 2015. The tax rate is 0% in all years. Kenwood purchased land, paying $417,200 cash on September 15, 2015. Refer to the financial statement information from Kenwood Corporation. Prepare the statement of cash flows. Use the indirect method