Comparative balance sheets of Ianxen leans Company for 2008 and 2007 are as follows: IANXEN IEAN S COMPANY Comparative Balance Sheets Dec. 31, 2008 Dec. 31, 2007 Assets Current assets Cash 55 180,000 $ 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 N Oilcurrent assets Land 545,000 500,000 Machinery 483,000 238,000 Accumulated amortization (143,000) (98,000) Total non~current assets 885,000 640,000 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 Long~term 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 $ 1,674,000 $1,348,000 Additional information: 1. Net income was $146,000 and included amortization expense of $95,000. 2. A machine costing $70,000 was sold for $4,000 less than its book value (cost minus accumulated amortization} of $20,000. 3. No repayment of longterm debt occurred during 2008. 4. Dividends declared and paid during the year were H Required: Prepare a cash ow statement for the year ended December 31, 2008. 7.. \"13L