Based on following income statement and balance sheet for Rashid Corp, prepare the cash flows from operating activitirs from 2019 using the indirect method

52 This question will be sent to your instructor for grading Income Statement For Year Ended December 31, 2019 Sales 3500000 Cost of goods sold $323600 Depreciation expense 40.000 Other operating expenses 125,500 14955100) Other gains (losses Gain on sale of equipment 5200 Income before taxes $16.100 Income tax expense 4800) Net Income 3111300 RASHID CORPORATION Balance Sheets At December 31 2019 2018 is PO Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation Total assets 364650 22.000 57000 2407000 (106.000 $277650 355.800 29,000 52100 222000 96.000 3262300 $28.400 1050 329450 Les Accounts payable Income taxes payable Totalbes Equity Common stock Contributed ca excess of par voice Resined earnings Total equity totes and equity 3 23.700 1200 324000 3106.000 18000 124200 $245.2007 3106000 000 114 000 3238000 52022800 235 2 3 4 X 5 6 7 8 9 W E R. Y U S D F G G H J C