4. Mugsy Company's 2019 income statement and comparative balance sheets at December 31 of 2018 and 2019 are shown. Mugsy Company Income Statement For the year Ended December 31, 2019 I $ 390,000 Sales Cost of Goods Sold 235,000 Gross Profit $ 155,000 Wages Expenses Depreciation Expense Other Operating Expenses Income Tax Expense $ 63,000 14,000 26,000 17,000 120,000 Net Income $ 35,000 Terry Company Balance Sheets Dec. 31, 2018 Dec. 31, 2019 Assets Cash Accounts Receivable (net) Inventory Prepaid Expense Plant Assets Accumulated Depreciation Total Assets $ 16,000 28,000 110,000 12,000 178,000 (76.000) $ 268,000 $ 30,000 35,000 84,000 8,000 130,000 (62.000) $225,000 Liabilities and Stockholders' Equity Accounts Payable $ 27,000 Wages Payable 6,000 Income Tax Payable 3,000 $ 14,000 2,500 4,500 Stockholder Equity Common Stock Retained Earnings Total Liabilities and 135,000 27.000 $ 268,000 125,000 79.000 $225,000 Cash dividends of $17,000 were declared and paid during 2016 Plant assets of $48,000 were purchased for cash, and later in the year, an additional $10,000 common stock was issued for cash. REQUIRED Prepare the Cash Flows from Operations section of the Cash Flow Statement using the indirect method. Reminder: You need only prepare the Cash Flow from Operations section of the statement