Abrahams Manufacturing Company Balance Sheet for 1231/2014 and 12/31/2015 2014 2015 Cash 5 89,000 84,000 112,000 10,000 $ 275,000 238,000 40,000) 5 473,000 5 85,000 88,000 5 153,000 70,000 5 100,000 70,000 100,000 10,000 S 280,000 311,000 66,000) 5 525,000 5 90,000 83,000 5 153,000 Inventory Prepaid expenses Total current assets Gross plant and equipment Total assets Accounts payable Accrued liabilities Total current debt Mortgage payable Preferred stock Common stock Retained eanings Total debt and equity 205,000 45,000 5 473,000 120,000 205,000 47,000 5 525,000 Abrahams Manufacturing Company Income Statement for the Year Ended 12/31/2015 2015 $ 184,000 60,000 $ 124,000o 44,000 Sales Cost of goods sold Gross profit Selling. general and administrative expenses Depreciation expense Operating income Interest expense Earnings before taxes Taxes Preferred stock dividends $ 54,000o 4,000 $ 50,000 16,000 $ 24,000 (Working with a statement of cash flows) Given the balance sheet, EB and income statement. . prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended December 31, 2015 1. The only entry in the accumulated depreciation account is for 2015 depreciation. 2. The firm paid 522,000 in common stock dividends during 2015. Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Net income Increase in accounts receivable Decrease in inventory Increase in account payable Net cash provided by operating activities Abrahams Manufacturing Company Balance Sheet for 1231/2014 and 12/31/2015 2014 2015 Cash 5 89,000 84,000 112,000 10,000 $ 275,000 238,000 40,000) 5 473,000 5 85,000 88,000 5 153,000 70,000 5 100,000 70,000 100,000 10,000 S 280,000 311,000 66,000) 5 525,000 5 90,000 83,000 5 153,000 Inventory Prepaid expenses Total current assets Gross plant and equipment Total assets Accounts payable Accrued liabilities Total current debt Mortgage payable Preferred stock Common stock Retained eanings Total debt and equity 205,000 45,000 5 473,000 120,000 205,000 47,000 5 525,000 Abrahams Manufacturing Company Income Statement for the Year Ended 12/31/2015 2015 $ 184,000 60,000 $ 124,000o 44,000 Sales Cost of goods sold Gross profit Selling. general and administrative expenses Depreciation expense Operating income Interest expense Earnings before taxes Taxes Preferred stock dividends $ 54,000o 4,000 $ 50,000 16,000 $ 24,000 (Working with a statement of cash flows) Given the balance sheet, EB and income statement. . prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended December 31, 2015 1. The only entry in the accumulated depreciation account is for 2015 depreciation. 2. The firm paid 522,000 in common stock dividends during 2015. Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Net income Increase in accounts receivable Decrease in inventory Increase in account payable Net cash provided by operating activities