Company, a major retailer of bikes and accessories, operates several stores and is a publically traded company. The comparative balance sheet and income statement for Winslow as of June 30, 2019, are as follows. The company is preparing its statement of cash flows.

The following is additional information concerning Winslows transactions during the year ended June 30, 2019.

1. All sales during the year were made on account
2. All merchandise was purchased on accounting, compromising the total accounts payable balance
3. Plant assets costing $98,000 were purchased by paying $28,000 in cash and issuing 7,000 shares of stock
4. The other expenses account is related to prepaid items
5. All income taxes incurred during the year were paid during the year
6. No new bonds were issued during the year

• Prepare a statement of cash flows for Winslow Company for 2019 using the indirect method.
• Prepare only the operating activities section for Winslow Company for 2019 using the direct method.

Balance Sheet As of June 30 2019 2018 $ $ Current Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets 30,250 75,000 5 220,000 9,000 334,250 $ $ $ 20,000 58,000 250,000 7,000 335,000 Plant Assets Plant Assets Less: Accumulated Depreciation Net Plant Assets Total Assets $ $ $ $ 580,000 (132,000) 448,000 782,250 $ $ $ $ 502,000 (125,000) 377,000 712,000 Current Liabilities Accounts Payable Salaries and Wages Payable Interest Payable Total Current Liabilities $ $ 123,000 47,250 27,000 197,250 $ $ $ $ 115,000 72,000 25,000 212,000 Long-term Debt Bonds Payable Total Liabilities 70,000 267,250 $ $ 100,000 312,000 Stockholders' Equity Common Stock, $10 par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity nun 370,000 145,000 515,000 782,250 $ 5 $ $ 280,000 120,000 400,000 712,000 Income Statement For The Year Ended June 30 2019 $ 1,255,250 $ 722,000 $ 533,250 Sales Revenue Cost of Goods Sold Gross Profit $ 5 $ 2018 1,150,500 582,000 468,500 $ Expenses Salaries and Wages Expense Depreciation Expense Other Expenses Operating Income Interest Expense Gain on sale of plant assets Income Before Taxes Income Tax Expense Net Income 252,100 25,000 8,150 248,000 (75,000) 4,000 177,000 43,000 134,000 $ $ $ $ $ $ $ $ 5 247,500 26,000 7,100 187,900 (85,000) 1,000 102,900 25,000 77,900 $