Complete a Statement of Cash Flows in the proper format, based on the journal entries provided above.

Journal Entries: 1 1/2/2020 Cash Common Stock 120,000 120,000 305,000 2 1/15/2020 Cash Bank Loan 305,000 240,000 3 2/1/2020 Building Mortgage Payable Cash 192,000 48,000 1,200 4 2/1/2020 Equipment Cash 1,200 1,710 5 2/1/2020 Prepaid Insurance Cash 1,710 92,500 6 2/3/2020 Inventory Account Payable 92,500 3,900 7 2/26/2020 Accounts Recievable Sales Revenue 3,900 60,000 8 3/1/2020 Account Payable Cash 60,000 3,900 9 3/27/2020 Cash Accounts Recievable 3,900 63,700 10 3/31/2020 Cash Sales Revenue 63,700 22,330 11 3/31/2020 Costs of Goods Sold Inventory 22,330 15,300 12 3/31/2020 Salaries and Wage Expense Cash Salaries and Wages Payable 12,000 3,300 1,000 13 3/31/2020 Depreciation Expense Accumulated Depreciation 1,000 20 14 3/31/2020 Depreciation Expense Accumulated Depreciation - Equipment 20 570 15 3/31/2020 Insurance Expense Prepaid Insurance 570 Cash Used for Operating Activities Check Figure is ($6,110). Make sure your Ending Cash Balance matches your Cash Balance on your Balance Sheet. Solution