6. Lucas Corporation, a private company, reported the following income statement and comparative balance sheet, along with transaction data for 2017. Prepare Lucas Corporation's statement of cash flows for the year ended December 31, 2017. Determine operating cash flows by the indirect method. (45) D 1 2 3 $ 662.000 560.00 102,00 5 6 7 8 9 Lucas Corporation Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross margin Operating expenses Salary expenses Depreciation expense, equipment Amortization expense, patent Rent expense Total operating expenses Income from operations Other items: Loss on sale of equipment Income before income tax Income tax expense Net income $ 46,000 7.000 3.000 2.000 10 58,000 44.000 11 12 14 15 16 17 (2.000) 42.000 16.000 $ 26,000 B 25. Focus B C 1 2 3 4 5 6 A Transaction Data for 2017: Purchase of equipment $ 98,000 Payment of cash dividends 18,000 Issuance of common shares to repay bonds payable 13,000 Purchase of long-term investment 8,000 Issuance of long-term note payable to purchase patent 37,000 Issuance of long-term note payable to borrow cash 7,000 Issuance of common shares for cash 19.000 Proceeds on sale of equipment (carrying amount, $76,000) 74,000 Repurchase of common shares 5,000 7 8 9 10 11