2018 $ 35,000 53,000 132,000 25,000 75,000 250,000 (60,000) $510,000 Condensed financial data (unrelated to problem #1) for Metropolitan Industries appear below: Metropolitan Industries Comparative Balance Sheet December 31 2019 Assets Cash $ 41,000 Accounts receivable 75,000 Inventories 120,000 Prepaid expenses 19,000 Investments 100,000 Plant assets 325,000 Accumulated depreciation (65.000) Total $615.000 Liabilities and Stockholders' Equity Accounts payable $ 93,000 Accrued expenses payable 29,000 Bonds payable 120,000 Common stock 275,000 Retained earnings 98.000 Total $615.000 Additional information: 1. New plant assets costing $100,000 were purchased for cash in 2019, 2 Old plant assets originally costing $25,000 were sold for $10,000 cash when the book value of the plant assets was $13,000. Loss on sale, $3,000 3. Bonds with a face value of $40,000 were converted into $40,000 of common stock. Cash was not involved in the reduction of the bonds payable account 4. A cash dividend of $15,000 was declared and paid during the year 5. Net income is $32,000. 6. Depreciation expense is $17,000. Instructions $ 75,000 24,000 160,000 170,000 81.000 $510.000 6. Depreciation expense is $17.000. Instructions Prepare Metropolitan's statement of cash flows for the year ended 2018 using the indirect method NOTE: Present your statements in a table with at least 2 columns. You SHOULD already know how to create a table in Bb. If you DID NOT learn to construct a table in Bb. type as usual. However, DO NOT USE THE TAP KEY to align amounts in a column. ONLY USE THE SPACE BAR to win amounts in a column T B 3012