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2. Prepare the Statement of Cash Flows of Laris Corporation for 2019, by using the financial statements below. (20 pts) Laris Corporation Income Statement For

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2. Prepare the Statement of Cash Flows of Laris Corporation for 2019, by using the financial statements below. (20 pts) Laris Corporation Income Statement For the year ended December 31, 2019 $150,000 117,500 $32,500 Sales revenue Cost of goods sold Gross Profits Selling expense 4,500 General and administrative expense 4,000 Depreciation expense 4,000 Operating profits Interest expense Net profit before taxes Taxes (40%) Net profit after taxes $ 20,000 2,500 $ 17,500 7,000 $ 10,500 Laris Corporation Balance Sheet For the Years Ended December 31, 2017 and 2018 2019 2018 Assets Cash $24,000 $21,000 Accounts receivable 45,000 39,000 Inventory 30,000 27,000 Gross fixed assets $42,000 $40,000 Acc. Depreciation 22,000 18,000 Net fixed assets 20,000 22,000 Total assets $119,000 $109,000 Liabilities and Equity Accounts payable $25,000 $30,000 Notes payable 50,000 40,000 Accruals 1,000 2,000 Long-term debts 10,000 8,000 Common stock at par 1,000 1,000 Paid-in capital in excess of par 4,000 Retained earnings 28,000 24,000 Total liabilities and equity $119,000 $109,000 4,000

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