30. Statement of cash flows preparation. (25 Points) Prepare a statement of cash flows for the year ending December 31, 2014 base on the information below. Johnston Enterprises Balance Sheet and Income Statement Data December 31, December 31, 2014 Current Assets: Cash $143,000 $119,000 Accounts Receivable 228,000 306,000 Inventory 391,000 340,000 Total Current Assets 762,000 765,000 Property, Plant, and Equipment 1,261,000 1,122,000 Less: Accumulated Depreciation (476,000) (442,000) Total Assets $1.547.000 $1.445.000 2013 Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities Bonds Payable Total Liabilities Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity $187,000 51,000 85.000 323,000 350,000 673,000 $102,000 68,000 76,500 246,500 391,000 637,500 510,000 364.000 874.000 $1.547.000 467,500 340,000 807,500 $1.445.000 1,615,000 781,000 834,000 $1,513,000 731,000 782,000 Sales Revenue Less Cost of Goods Sold Gross Profit Expenses: Depreciation Expense Salaries and Wages Expense Interest Expense Loss on Sale of Equipment Income Before Taxes Less Income Tax Expense Net Income 136,000 357,000 34,000 153,000 391,000 34,000 12.000 244,000 98.000 $146,000 255,000 102.000 $153,000 Additional Information: During 2014, Johnson Enterprise - Sold equipment with an original cost of $133,000 and accumulated depreciation of $119,000. Purchased new equipment for $272,000 by paying cash. Paid cash dividends of $122,000