Attached is the data needed to prepare your Statement of Cash Flows (SCF) offline using the indirect method. Use the attached template to complete your SCF

Thomas Company
Cash Flows Statement
December 31, 2019
Assets		2019	2018
Cash		$35,000	$20,000
Accounts Receivable		20,000	14,000
Inventory		28,000	20,000
Property, Plant & Equipment		60,000	78,000
Accumulated Depreciation		(32,000)	(24,000)
Total Assets		$ 111,000	$ 108,000
Liabilities and Stockholder's Equity
Accounts Payable		$19,000	$15,000
Income Taxes Payable		7,000	8,000
Bonds Payable		17,000	33,000
Common Stock		18,000	14,000
Retained Earnings		50,000	38,000
Total Liabilities and Stockholder's Equity		$ 111,000	$ 108,000
Thomas Company
Income Statement
For the year ended December 31, 2019
Sales			$ 242,000
Cost of Goods Sold			175,000
Gross Profit			67,000
Selling Expenses		$18,000
Administrative Expenses		6,000	24,000
Income from Operations			43,000
Interest Expense			3,000
Income before Income Taxes			40,000
Income Tax Expense			8,000
Net Income			$32,000
Additional data:
During the year equipment was sold for $8,500 cash. This equipment cost
$18,000 originally and had accumulated depreciation of $9,500 at the
time of the sale.