Create a full Statement of Cash Flows using the following information: Benjamin, Inc. Income Statement For the year ended Dec 31, 20xx Sales Cost of Good Sold Gross Profit Operating Expenses: Wages & Salaries Rent Depreciation Other Total Operating Expenses. Income from Operations Gain/(Loss) on sale from equipment Income before income taxes Income Tax Expense Net Income Add'l Information: Beginning Cash Balance Ending Cash Balance Increase in Accounts Receivable Decrease in Accounts Payable Increase in Income Taxes Payable Increase in Prepaid Expenses Decrease in Merchandise Inventory Increase in Long-Term Notes Payable 55,000 24,000 17,000 6,000 27,000 0 4,000 5,500 3,200 8,000 12.000 19,000 275,000 135,000 140,000 102.000 38,000 0 38,000 14,440 23,560 Prepare JEs below & use the info to help complete the Stmt of Cash Flows: a. Sold equipment: Cost b. Bought Equipment C. Issued shares: e. Accumulated Depreciation Sales Price Purchase Price Cash Paid Bond Payable for Balance Number of shares Price per share d. Declared & Paid Cash Dividend Paid off LT Note Payable Number of shares Price per share $85,000 $57,500 $14,000 $22,000 $10,000 $12,000 8,500 $5 20,000 $0.30 $30,000 The journal entry (a) related to the sale of equipment included a: O DR to Loss on Sale for $13,500 CR to Gain on Sale for $13,500 O DR to Equipment for $85,000 CR to Accumulated Depreciation for $57,500 The purchase of equipment (b) results in a total purchase price of: $22,000 O $10,000 $12,000 $45,000 The net change in cash for the year was: $72,890 $27,000 $99,890 O $15,190 The increase in Accounts Receivable is a Negative Positive Has no impact No answer text provided. to cash. The net cash provided/(paid) for financing activities is: $25,500 $55,500 $31,500 $6,500 The cash balance at the end of the year is: $99,890 $15,190 $27,000 $72,890