Based on the information provided below, prepare the statement of cash flows for the Gulp-it-Down Coffee Co.

Gulp-it-Down Coffee Co. Comparative Balance Sheet For the Year Ended December 31, 2012
	2012	2011
Assets
Cash	140,000	160,000
Accounts Receivables	400,000	380,000
Inventory	480,000	420,000
Fixed Assets (net of accumulated Depreciation)	1,860,000	1,720,000
Less: Accumulated Depreciation	(1,000,000)	(900,000)
Total	1,880,000	1,780,000
Liabilities & Owners Equity
Accounts Payable	240,000	260,000
Accrued expense	120,000	100,000
Bonds Payable	780,000	720,000
Capital Stock	420,000	420,000
Retained Earnings	320,000	280,000
Total	1,880,000	1,780,000

1. Net income for the year amounted to 60,000, and cash dividends were declared and paid in the amount of 20,000. 2 Gulp-it-Down Coffee Co.'s only noncash expense was depreciation Expense which totaled 100,000. 3. The company purchased plant assets for 140,000. 4. Bonds payable in the amount of 60,000 were issued during the year.