Based on the following information, prepare the statement of cash flows using the indirect method. E. Ray Sir Company Balance Sheet 2018 2017 Change Current assets: Cash Accounts receivable Inventory Prepaid expenses Long-term assets Plant & equipment (net) $53,000 67,000 95,000 14,000 $29,000 71,000 96,000 11,000 $24,000 (4,000) (1,000) 3,000 128,000 117,000 11,000 Total Assets 357,000 324,000 24,000 11.000 Current liabilities: Accounts payable Interest payable Salary Payable Other accruals Tax payable Long-term liabilities Bond payable Stockholder's equity Common stock Retained earnings 6,000 27,000 7,000 22,000 16,000 9,000 21,000 9,000 2,000 (5,000) (3,000) 6,000 (2,000) 58,000 49,000 9,000 160,000 64,000 140,000 58,000 20,000 6,000 Total Liabilities and Equity 357,000 324,000 Income Statement For the Year Ended December 31, 2018 $580,000 Revenues: Sales Expenses: Cost of goods sold Depreciation expense Salary expense Other operating expenses Interest expense Tax expense Total expense Net Income 348,000 24,000 75,000 52,000 18,000 12,000 529.000 51,000