answer this question in 8 minutes

James Baker Corporation provided the following Statements for 2014-15 Balance Sheet 2015 2014 Assets $ $ Cash 40,000 70,000 Accounts Receivable 320,000 350,000 Inventory 460,000 320,000 Total Current Asset 820,000 740,000 Gross Fixed Assets 560,000 520,000 Accumulated Depreciation 180,000 150,000 Net Fixed Asset 380,000 370,000 Total Asset 1,200,000 1,110,000 Liabilities & Stockholders Equity Current Liabilities Accounts Payable 390,000 320,000 Notes Payable 110,000 90,000 Accrued Expense 20,000 20,000 Total Current Liabilities 520,000 430,000 Debenture 320,000 350,000 Total Liabilities 840,000 780,000 Stockholders Equity Common Stock at par 100,000 100,000 Share Premium Reserve 150,000 150,000 Retained Earnings 110,000 80,000 Total Liabilities & Stockholders Equity 1,200,000 1,110,000 Income Statement 2015 $ Sales 2,200,000 Cogs 1,420,000 Gross Profit 780,000 Operating Expenses 600,000 Operating Income (EBIT) 180,000 Interest 29,000 Earnings before Tax (EBT) 151,000 Tax (30%) 45,000 Earnings after Tax (Net Income) 106,000 Dividend for Preferred Stockholders 6,000 Earnings for Common Stockholders 100,000 Dividend for Common Stockholders 25,000 Retained Earnings 75,000

Required: A) Prepare a Cash Flow Statement for the year 2015. (10)