Cash Accounts Receivable Inventory Accounts Payable Wages Payable THK Company Account Balances as at December 31 2015 2014 $ 32,100 $ 5,400 35,000 18,800 14,600 21,100 15,000 19,800 3,100 800 THK Company Income Statement For the Year Ended December 31, 2015 Sales $ 244,500 Cost of Goods Sold $ 180,200 Wages 43,700 Supplies 4,900 Property Taxes 2,900 Utilities 2,200 Loss on Disposal of Equipment 4,800 2,800 Depreciation of Capital Assets 69 241,500 $ 3,000 Net Income More Info - X In addition, the following information is available: Accounts Payable balances resulted from merchandise inventory purchases. The book value of the equipment was $13,100. Signed a 8%, 10-year note payable in exchange for a building with a market value of $81,000. Issued 2,000 new common shares at $10 per share. Print Done Comparative selected account balances and an unclassified income statement for THK Company follow: (Click the icon to view the account balances.) i (Click the icon to view additional information.) Requirements (Click the icon to view the income statement.) Requirement 1. Prepare a statement of cash flows for THK, using the indirect method. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) THK Company Statement of Cash Flows For the Year Ended December 31, 2015 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash during the year Cash balance, December 31, 2014 Cash balance, December 31, 2015 Noncash investing and financing activities: Requirement 2. Prepare the cash flow from operating activities section by using the direct met THK Company Statement of Cash Flows For the Year Ended December 31, 2015 Cash flows from operating activities: Receipts: Total cash receipts Payments: Total cash payments Net cash provided by (used for) operating activities