Comparative balance sheets of Ianxen Ieans Company for 2008 and 2007 are as follows: IANXEN JEANS COMPANY Comparative Balance Sheets .- Dec. 31, 2008 Dec. 31. 2007 Assets Current assets Cash :5 180.000 $ 188.000 Accounts receivable 120,000 133,000 Notes receivable 50,000 61,000 Inventories 439,000 326.000 Total current assets 789,000 708,000 Non-current assets Land 545.000 500.000 Machinery 483,000 238,000 Accumulated amortization (143,000) [98,000] Total noncurrent assets 385,000 640,000 Total assets $1,674.000 $1.348,000 liabilities Current liabilities Accounts payable $ 125,000 $ 158,000 Interest payable 17.000 10,000 Total current liabilities 142,000 168,000 LongAterm debt 350,000 200,000 Total liabilities 492,000 368,000 Shareholders' equity Common shares 650,000 550,000 Retained earnings 532.000 430,000 Total shareholders' equity 1.182.000 980.000 Total liabilities and shareholders' equity S 1,674.000 $1.348,000 Additional information: at 1. Net income was {5146.000 and included amortization expense of $95,000. 2. A machine costing $0,000 was sold for $4,000 less than its book value [cost minus accumulated amortization] of $20,000. 3. No repayment of long-term debt occurred during 2008. 4. Dividends declared and paid during the year were 55\" Required: Prepare a cash ow statement for the year ended December 31. 2008. ' ' +\\ r