301680 Total liabilities and stockholders equit 19. is as follows: The income statement for the year ended December 31, 2099, is as far $2,023,898 1,245476 $ 778,422 $ 14,790 517,299 Sales ............. Cost of merchandise sold ........ Gross profit ......... Operating expenses: Depreciation expense ........ Other operating expenses .... Total operating expenses....... Operating income.......... Other expenses: Loss on sale of investments ... Income before income tax .......... Income tax expense..................... Net income............................. 532,089 $ 246,333 (10,200) $ 236,133 94,453 $ 141,680 Additional data obtained from an examination of the accounts in the ledger for are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $91,800 cash. d. The common stock was issued for cash. e. There was a $102,000 debit to Retained Earnings for cash dividends declared, Instructions Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities