Bls SS Cowo wold Wages and other propenses Incere expense Depreciation expense... $300.000 216.000 7 000 24.000 (547.000) 112.000 40.000 70,000 Other pines Gain on retirement of Loss one of plant 6.000 167000 Assets Current Cash Accounts receivable ..... Merchandise inventory Prepaid expenses .... Tocal current Long-term uses Pantat Accumulated depreciation Tool Liabilities Current habilidad Accounts payable...... 126.000 10.000 income we expense. Net income 210.000 148000 $288.000 $357.000 . 35.000 $40.000 40 Income esperable... Toel current des Long-term not able 60.000 90.000 150 000 12.000 56.000 64,000 120,000 Equity Common stock Recained earning p .. 95.000 112.000 10.000 88.000 Tools und 207 000 3.357.000 000 $288.000 Additional Information The accounts payable balances result from merchandise inventory purchases . Purchased $70,000 in plant assets by paying S10,000 cash and issuing 560.000 of notes payable. .. Sold plant assets with an original cost of $30,000 and accumulated depreciation of $12.000 for $12.000 cash. yielding a $6,000 loss. 1. Received SI5.000 cash from issuing 3.000 shares of common stock . Paid $18.000 cash to retire notes with a $34.000 book value, yielding a $16.000 gain. f. Declared and paid cash dividends of $14.000 Required: 1. Prepare the Cash accordey to the Flow Statement direct method