Common stock dividends paid during 2018 $22.000 SOLUTION Abrahams Manufacturing Company Statement of Cash Flows: Cash Flow from Operating Activities Net Income Adjustments Depreciation Increase in accounts receivable Decrease in inventory Increase in account payable Decrease in accrued liabilities Net cash provided by operating activities Cash Flow from Investing Activities Increase in gross fixed assets Cash Flow from Financing Activities Decrease in mortgage payable Increase in preferred stock Preferred stock dividends Common stock dividends Net cash provided by financing activities Net increase in cash Beginning cash Ending cash Requirements: 1. Start Excel. Download and open the workbook named: Keown_Martin_Petty_Problem_3-13_Start. Important note: All calculations must be shown using cell references. Do NOT enter numerical values in the cells.2017 2018 Cash $89,000 $100,000 Accounts receivable 64,000 70,000 Inventory 112.000 100,000 Prepaid expenses 10.000 10.000 Total current assets 275,000 280,000 Gross plant and equipment 238,000 311,000 Accumulated depreciation (40,000) (66,000) Total assets $473,000 $525,000 Accounts payable $85,000 $90,000 Accrued liabilities 68,000 63,000 Total current debt 153,000 153,000 Mortgage payable 70.000 0 Preferred stock 0 120,000 Common stock 205,000 205,000 Retained earnings 45,000 47,000 Total debt and equity $473.000 $525.000 Abrahams Manufacturing Company Income Statement: 2018 Sales $184,000 Cost of goods sold 60.000 Gross profit $124,000 Selling, general, and administrative expenses 44,000 Depreciation expense 26,000 Operating income $54,000 Interest expens 4,000 Earnings before taxes $50,000 Taxes 16,000 Preferred stock dividends 10,000 Earnings available to common shareholders $24,000 Common stock dividends paid during 2018 $22.000