2019 2018 525,710 75,000 455,000 (25,000) 23,676 Use the following Financial Statements to answer question #1. December 31, Assets Cash $ Marketable securities Accounts receivable Allowance for Bad Debt Interest Receivable Prepaid Advertising Prepaid Insurance Prepaid Rent Office supplies Inventory Current Assets $ Office furniture Equipment Accumulated depreciation Long-term notes receivable Land Patent Non-current Assets $ Total Assets $ Liabilities Accounts payable Wages payable Interest Payable Short-term Note Payable Deferred Revenue Dividends payable Bond interest payable Current Liabilities $ Long-term notes payable Bonds Payable Total Liabilities $ Stockholders' Equity Common Stock Additional Paid-in-Capital Treasury Stock 3,456,789 $ 185,000 1,654,321 (248,148) 85,484 13,333 462,280 65,167 10,000 727,850 6,412,077 $ 230,000 3,815,000 (2,301,500) 508,591 850,000 158,125 3,260,216 $ 9,672,293 $ 139,836 29,050 3,520 975,000 2,201,792 5,000,000 (2,000,000) 285,000 1,450,000 4,735,000 6,936,792 977,638 27,500 844 450,000 35,000 155,000 534,135 1,313,600 19,000 2,872,716 $ 1,342,000 1,016,561 5,231,277 $ 640,000 1,250,000 1,890,000 1,070,000 2,818,406 (595,000) 1,000,000 1,824,406 Contributed capital Retained earnings Total Stockholder's Equity $ Total Liabilities and SE $ 500,000 647,610 4,441,016 $ 9,672,293 $ 500,000 1,722,386 5,046,792 6,936,792 Year Ended December 31 2019 Operating Revenues Sales, net $ 4,567,890 Cost of goods sold 2,131,415 Gross Profit $ 2,436,475 Operating Expenses Wages expense $ 432,456 Utility expense 66,000 Insurance expense 119,556 Rent Expense 55,883 Fuel Expense 3,500 Office supplies expense 27,000 Advertising expense 146,667 Bad debt expense 293,932 Amortization Expense 7,500 Depreciation expense 876,543 Total expenses $ 2,029,037 Operating Income (Loss) $ 407,438 Other Items Interest income $ 85,484 Interest expense (68,688) Bond Interest Expense (19,000) Loss on sale Gain on sale 550,000 Unrealized holding gain (loss) 24,500 Net Income $ 979,735 Question 1 25 pts Calculate the Cash Flow from Operations amount for 2019 under the Indirect method. Note: Use numbers only-- do not use a dollar sign ($) or decimals