Easthoff, Incorporated provided the following balance sheets and income statement for the current year.

Prepare the operating activities section of the cash flow statement using the direct method. Accrued expenses relate to Selling, General and Administrative Expenses.

P6-13 (book/static) Easthoff, Incorporated provided the following balance sheets and income statement for the current year. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Requirement Prepare the operating activities section of the cash flow statement using the direct method. Accrued expenses relate to Seling. General and Administrative Expenses. (Use a minus sign or parentheses for any cash outflows and/or net cash used by operating activities. If a box is not used in the statement, leave the box empty: do not select a label or enter a zero.) * Balance Sheet - XILA II i Income Statement - X Easthoff Incorporated Partial Statement of Cash Flows (Direct Method) For the Year Ended December 31 Operating Activities: Easthoff, Incorporated Balance Sheet At December 31 Easthoff, Incorporated Income Statement For the Year Ended December 31 Ending Beginning Sales $ 80,085 48,051 Assets Current Assets Cash Accounts Receivable Merchandise Inventory 32,034 $ 7,000 $ 8,500 2,300 1.700 19,500 $ 3,500 8,000 4,000 2,200 17,700 Cost of Goods Sold Gross Profit Selling. General, and Administrative Expenses Depreciation Expense Total Operating Expenses Income Before Interest and Taxes Interest Expense Income Before Tax Income Tax Expense 10,700 2.400 13.100 Prepaid Expenses $ Total Current Assets Noncurrent Assets Investments 18,934 (4.000) $ Property. Plant, and Equipment-net Total Noncurrent Assets 12,000 $ 75,000 87,000 $ 108,500 $ 24,300 58,000 82,300 100.000 14,934 (7.334) 7,600 $ $ Net Income Cash Collected from Customers Cash Paid for Income Taxes Cash Paid for Interest Cash Paid for Merchandise Cash Paid to Employees Cash Paid to Suppliers Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Accrued Expenses Decrease in Income Taxes Payable Decrease in Interest Payable Decrease in Merchandise Inventory Depreciation Expense Increase in Accounts Payable Increase in Accounts Receivable Increase in Accrued Expenses Increase in Income Taxes Payable Increase in Interest Payable Increase in Merchandise Inventory Net Income Print Done $ Total Assets Liabilities Current Liabilities Accounts Payable Accrued Expenses Income Taxes Payable Total Current Liabilities Noncurrent Liabilities 1,000 5,120 4,500 $ 9,800 8,000 20,300 $ 4.850 10,970 Notes Payable 31,000 $ 31,000 51,300 $ 42,630 42,630 53,600 Total Noncurrent Liabilities Total Liabilities Stockholders' Equity Common stock, $1 par value Additional Paid - In Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 10,000 $ 24,700 20.500 55,200 $ 106,500 $ 9,000 20.000 17,400 46,400 100.000 Print Done