7 redo

correct the red marks

Use the following income statement and balance sheet information to put together a statement of cash flows. (Enter negative amounts using either a negative sign preceding the number eg, -45 or parentheses es (451) Sales Cost of goods sold Gross profit Gen'l & admin expense Selling & mkt expense Depreciation Operating income 2020 $1.241,000 $687.000 $554.000 $157.000 $135.000 $25,000 $237.000 Interest $142.000 Income before taves 595.000 Gen'l & admin expense $157,000 Selling & mkt expense $135,000 Depreciation $25,000 Operating income $237,000 Interest $142.000 Income before taxes $95.000 Income taxes (27%) $25,650 Net income $69.350 Dividends paid $25.000 Assets 2020 2019 Cash $24,000 $17,150 Accounts receivable $125,000 $112.000 Inventory $200.000 $216,000 Total current assets $349.000 $345,150 Gross plant and equipment $700,000 $475,000 Less: accum. depreciation $313.000 $288.000 Net plant and equipment $387.000 $187.000 Total assets $736.000 $532.150 Liabilities Accounts payable $118.000 $104.000 Liabilities Accounts payable $118,000 $104,000 Notes payable $28,000 $28,000 Total current liabilities $146,000 $132.000 Long-term debt $248,000 $153,000 Total liabilities $394,000 $285,000 Common stock ($0.01 par) $4,500 $4,000 Paid-in capital $219.500 $169.500 Retained earnings $118.000 $73.650 Total stockholders' equity $342.000 $247.150 Total liabilities and equity $736.000 $532.150 Statement of Cash Flows 2020 Operating Activities Net Income/Loss $ 69,350 Depreciation Cash from Operations Investing Activities