2019 5 $ Current Ants Cash Accounts receivable Inventory Prepaid expenses Total current 2.000 75,000 220,000 1.000 58.000 235.000 7.000 301.000 306,000 Plates Accumulated depreciation plant assets Totales 600,000 (150.000) 502.000 (125.000) 678.000 Current Liabilities Accounts payable Interest payable Total current liabilities 123.000 28.000 151,000 125.000 25.000 150,000 128.000 278,000 280.000 120,000 300,000 Bonds payable 90.000 Total Liabilities 201,000 Shwebolders' equity Common stock, S10 por 370.000 Retained Earnings 145.000 Total desequity SI5.000 Total liabilities and stockholders' equity 756,000 Spartan Copy Income Statement For the Year Ended December 31, 2019 Sales Revene Cost of goods sold Gross profit 678000 1.255.250 722.000 Expenses Selling general, and administrative expense Terst expense Depreciation expense Total expense Operating income Income tax expense 260.250 75.000 25.000 160,250 173.000 43.000 Net Income 130,000 The following is additional information concerning Spartan's transactions during the year ended December 31, 2019. 1. All sales were made on account. 2. All merchandise was purchased on account, comprising the total accounts payable account. 3. Plant assets costing 898,000 were purchased by paying $28,000 in cash and issuing 7,000 shares of stock. 4. Some selling, general, and administrative expenses were prepaid. 5. All income taxes incurred during the year were paid during the year. 6. To supplement its cash needs, Spartan issued 2,000 shares of common stock at par value. 7. Cash dividends of $105,000 were declared and paid at the end of the fiscal year. Required: Prepare the 2019 Statement of Cash Flows for Spartan using both the direct and indirect methods