December 31, 2013 Johnston Enterprises Balance Sheet and Income Statement Data December 31, 2014 Current Assets: Cash $143,000 Accounts Receivable 228,000 Inventory 391.000 Total Current Assets 762,000 Property, Plant, and Equipment 1,261,000 Less: Accumulated Depreciation (476.000) Total Assets $1.547.000 $119,000 306,000 340.000 765,000 1,122,000 (442.000 $1.445.000 Current Liabilities: Accounts Payable Notes Payable Income Taxes Payable Total Current Liabilities $186,000 52.000 85.000 323,000 $100,000 70,000 76,500 246,500 Bonds Payable Total Liabilities 350,000 673.000 391,000 637.500 510,000 364.000 874.000 $1.547,000 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity Sales Revenue Less Cost of Goods Sold Gross Profit Expenses: Depreciation Expense Salaries and Wages Expense Interest Expense Loss on Sale of Equipment Income Before Taxes Less Income Tax Expense Net Income 467,500 340,000 807,500 $1,445,000 $1,513,000 731.000 782,000 1.615,000 781,000 834,000 153,000 391,000 34,000 12.000 244,000 98.000 $146,000 136,000 357,000 34.000 0 255,000 102.000 $153,000 Salaries and Wages Interest Expense Loss on Sale of Equipment Income Before Taxes Less Income Tax Expense Net Income 34,000 12.000 244,000 98,000 $146.000 0 255,000 102.000 $153,000 red: Prepare the operating section of the Statement of Cash Flow for 2014, using the indirect approach. 3 (12pt) :- E- T- Arial TF Paragraph ' , TS HTML CSS Mashups 1 NA