#6 please answer complete question with correct descriptions .. thank you!!

Statement of Cash Flows Instructions The comparative balance sheet of ConnieJo Company, for December 31, Years 1 and 2 ended December 31 appears below in condensed form: 1 Year 2 Year 1 2 Cash $45,000.00 $53,500 00 3 Accounts receivable (net) 51,300.00 58,000.00 4 Inventories 147200.00 135,000.00 SInvestments 60,000.00 Equipment 493,000 00 375,000 00 Accumulated depreciation-equipment (113 700 00) 128,000 00) $622,800 00 $553,500.00 Accounts payable $61 500,00 $42,600 00 10 Bonds payable, due Year 2 100.000.00 1 Common stock $10 par 250 000 00 200,000.00 75c0o.00 50.000.00 12 Paid-in capital in excess of par-common stock 60.900 00 Retained earmings 236 30000 $553 500.00 $622800 00 The income statement for the current year is as follows 1 Sales $623,000.00 2 Cost of merchandise sold 348,500.00 SGross profit $274,500.00 Operating expenses: 4 Depreciation expense $24,700.00 100,000.00 Other operating expenses 75,300.00 $174,500.00 Income from operations Other income: $5000 00 Gain on sale of investment 40Other expense 12.000.00 (7.00000) Interest experse 0.00 16 Income before income tax 64 100 00 Income tax $T05 400 00 Nincome Additional data for the current year are as follows (a) Fully depreciated equipment costing $39,000 was scrapped, no salvage, and equipment was purchased for $157,000. (b) Bonds payable for $100,000 were retred by payment at their face amount (c) 5,000 shares of common stock were issued at $15 for cash. (d) Cash dividends declared were paid $28.000. (e) All sales are on account. Required: Prepare a statement of cash flows, using the direct method of reporting cash flows from operating activites. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement In the operating activibes secion, use the minus sign to indicate cash outfows, decreases in cash and a net cash out fow, if required In the investing and financing activities section, use a minus sign only to indicate a NET cash outfow for the secion. "Less" or "Plus" will automatically appear it it is required Labels and Amount Descriptions Labels For the Year Ended December 31, Year 2 Amount Descriptions Cash paid for dividends cash paid for purchase of equipment Cash paid to retire bonds payable Cash payments for income taxes Cash payments for interest Cash payments for merchandise Cash payments for operating expenses Cash received from customers Cash received from sale of common stock Cash received from sale of investments Decrease in cash Increase in cash Net cash flows from financing activities Net cash flows from investing activities Net cash flows from operating activities Net cash flows used tor financing activities Net cash flows used for investing activities Net cash flows used for operating activities Calrudate Pepare a staemest of cash fows, using the drect method of eportng cash ows om operating actvbes Rekr t he Labels and Amount Descrptons stprovided the eact wonding of the answer choices brres e sure to comples he teading of the sament the operating acvses secton, use the minus sign aD ndicae cash ouows, deceases in cash and a net cash out ow irequed h the inessng and ancng acttes secton une a minus sign anly to indca a NETcash outow ty he secon Tess"or "Plusw auomatcaly appear tis requred Comee Companye Sutement ef Casn Flows abe Ceb ows fon peg act Cah owoneg " Cah the bgeg of the ee